Abu Dhabi Property Market Booms: Q1 Sees $4.3 Billion In Transactions

Abu Dhabi Real Estate Hits $4.3 Billion in Q1 2024 Transactions

Abu Dhabi Real Estate Market recorded AED 15.9 billion (USD 4.3 billion) in sales and mortgage transactions during the first quarter (Q1) of 2024, according to data from the Department of Municipalities and Transport’s (DMT) DARI platform.

Total of 5,127 transactions have been done across various property types. Sales transactions reached 2,919, valued at AED 9.6 billion (USD 2.6 billion). Whereas off-plan units saw strong demand with 1,752 transactions compared to 1,167 for completed properties.

The DARI data also revealed active mortgage activity, with 2,208 deals totalling AED 6.3 billion (USD 1.7 billion) completed in Q1.

Aldar Projects Drive Multi-Million Dollar Deals on Key Islands

While specific details on the top transactions weren’t provided for the entire quarter, Yas Island and Al Saadiyat Island emerged as locations for some of the most valuable deals during the past week, involving Aldar Properties projects. The highest transaction on Yas Island reached AED 23.5 million (USD 6.4 million), while Al Saadiyat Island saw a deal valued at AED 14.3 million (USD 3.9 million).