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Abu Dhabi records $15.8bn in real estate transactions in 2019

Al Reem Island topped the list of real estate transactions with a value of $1.8bn, followed by Yas Island, Al Reef, Al Shamkha City

Abu Dhabi witnessed the construction of 3,566 buildings in 2018. [representational image]
Pixabay
Abu Dhabi witnessed the construction of 3,566 buildings in 2018. [representational image]

Abu Dhabi Department of Municipalities and Transport (DMT) has revealed that the UAE capital recorded $15.8bn (AED58bn) worth real estate transactions in 2019, with the authority having completed 19,000 transactions last year.

The Abu Dhabi Government Media Office took to its official Twitter account to reveal that the transaction included sales and mortgages of lands, buildings, and real estate units in the emirate.

According to the 2019 real estate transactions report, the rising demand for real estate among investors, who are looking for a safe, stable and encouraging investment environment has helped boost the performance of the sector.

The report revealed that Al Reem Island topped the list of real estate transactions with a value of $1.8bn (AED6.52bn), followed by Yas Island with $925.6m (AED3.4bn), Al Reef with $626.2m (AED2.3bn), Al Shamkha City with $299.5m (AED1.1bn), in addition to Khalifa City with $187m (AED687m), and Al Faqa Area with $82.5m (AED303m).

Meanwhile, the value of total sales reached $5.6bn (AED20.6bn) for 10,155 transactions in 2019, divided between sales of 3,424 lands worth $2.8bn (AED10.3bn) and 6,731 units worth $2.8bn (AED10.3bn).

In addition, the value of transactions related to mortgages totalled to $10.2bn (AED37.4bn) for 8,663, which has been divided between 7,730 lands for $9.9bn (AED36.2bn), and 933 units for $326.7m (AED1.2bn).

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