Abu Dhabi earns Dh 31 billion in real estate deals for H1-2019

Al Reem proved to be one of the most popular Island with investors followed by the Al Reef.

Dubai: In its first six months, the real estate market of Abu Dhabi produced Dh31 billion, followed by Al Reef, which netted Dh1, 78 billion, is the most popular option for investments.

According to data from the Urban Planning and Municipalities Department (DPM), the market accounts for 10,000 transactions. To proceed, the existence of foreign investors or companies held by them in operations in specified areas would be exciting to assess.

The complete foreign ownership in such specified investment areas was permitted to Abu Dhabi in April.

This is, by the way, the first two-year study on the Abu Dhabi property transaction.

“The release of this first indicators report is a continuation of our open approach aimed at raising transparency and enhancing the ease of doing business in the real estate market,” said Falah Al Ahbabi, chairman of DPM.

“Providing information to investors, real estate developers and landowners will enhance confidence and competitiveness regionally and internationally.

“We believe that these figures show investors how well the Abu Dhabi real estate market is performing; the emirate remains highly competitive in this sector.”

Developers have also made a difference in their buyers ' interests, whether it is Imkan's attempt to provide for post-handover schemes in its latest releases or Aldar's more recent offer to buy from one of their Yas Island clusters.

During the era, there have been 6,374 real estate transactions worth over Dh12.5 billion. The quantity of mortgages transaction "with 3,712 mortgage transfers valued at more than USD 18.5 billion shows banks ' trust in the industry," added the study.