Abu Dhabi records AED77.6 billion in real estate transactions in 2022

Abu Dhabi records AED77.6 billion in real estate transactions in 2022

ABU DHABI, 3rd March, 2023 (WAM) -- The Department of Municipalities and Transport (DMT) has revealed that the UAE capital's real estate market recorded 19,033 transactions, reaching a total value of AED77.6 billion in 2022.

As per the Department's reports, the emirate's real estate sector recorded 9,010 sales transactions worth AED23.5 billion and 10,023 mortgage transactions worth AED54.1 billion

Yas Island topped the list with transactions worth AED4.2 billion, with Al Reem Island coming in second place with transactions worth AED3.4 billion. With AED3.1 billion, Saadiyat Island came in third, while Al Shamkha came in fourth with AED2.1 billion. Finally, Zayed City came in fifth with AED1 billion.

The real estate market in Abu Dhabi saw significant growth and strong performance in 2022 compared to 2021. The value of real estate transactions rose by 8.5 percent, while the number of transactions jumped by 27.2 percent in the same period. This progress demonstrates the Emirate's resilience and reinforces the key role of Abu Dhabi's real estate sector in diversifying the UAE's economy.

DMT has also announced seven new real estate investment areas in the Emirate of Abu Dhabi for 2022. These investment areas have been chosen for their diversity in project offerings, unit designs and