UAE real estate market continues to flourish in second quarter

UAE real estate market continues to flourish in second quarter

The UAE real estate market remained strong during the second quarter of this year despite global headwinds and rising inflation concerns, showed the Q2 2022 UAE Real Estate Report by property management experts Asteco.

In fact, geopolitical tensions experienced globally raised the position of the UAE as a safe destination to visit, live, work, invest in, and study.

For the latest headlines, follow our Google News channel online or via the app.The report also linked the increased demand for property to pro-active government reforms such as the introduction of the Golden Visa, and the transition toward a digital economy.

Abu Dhabi

Around 1,300 residential apartments were delivered in Abu Dhabi in Q2 2022, spread across different areas of Abu Dhabi with the focus on Al Raha Beach and Al Reem Island.Whilst there has been a significant rise in new project launches during the first half of 2022, several others have already progressed to the planning stage and are expected to start construction within the next 6 -12 months. The majority of these developments are located in Al Raha Beach, Yas Island, and Al Reem Island. A total of 3,400 apartments are expected to be completed by the end of this year in the emirate.Apartment