Skip to content Skip to Search
Skip navigation

Foreigners invest $495m in Abu Dhabi property market

Total real estate transactions in Abu Dhbai reached AED19.4 billion in Q1 Wam
Total real estate transactions in Abu Dhbai reached AED19.4 billion in Q1

Foreign direct investment into Abu Dhabi’s real estate market reached AED1.81 billion ($495 million) in the first quarter of 2024, official data shows.

The investment was made by 487 individuals, primarily from India, Russia, Canada, the UK, Jordan and China, the UAE state-run Wam news agency reported, quoting Abu Dhabi Real Estate Centre, the real estate market regulator.

“The performance of Abu Dhabi’s real estate market in the first three months of the year underscores the sector’s increasing appeal to international investors,” said Rashed Al Omaira, acting director general at Abu Dhabi Real Estate Centre.

The growth shows encouraging signs for the remainder of 2024, he said.

Overall, real estate transactions reached AED19.4 billion in Q1 2024, through 6,070 transactions. Sales and purchases made up nearly AED13 billion of that, representing 66 percent of the total volume.

In February, Savills Middle East said property sales in Abu Dhabi’s residential sector rose 83 percent year on year in 2023 as new launches enticed buyers to the off-plan market.

More than 8,000 units were introduced to meet growing demand in the UAE capital, with under-construction properties accounting for three quarters of the 11,200 transactions last year, the report said.

The emirate has benefited from a string of international hedge funds choosing to open operations in the Abu Dhabi Global Market, including Brevan Howard from Jersey, Ray Dalio, founder of Bridgewater Associates, one of the world’s largest hedge funds, Blackstone and OneIM.

“The market benefitted from a growth in investments from foreign nationals and sustained demand levels from the Emirati population,” Savills said.

Latest articles

OTB Group has a presence in Dubai with its Maison Margiela store in the Dubai Mall

Chalhoub Group in venture with Italian luxury brand

Luxury distributor Chalhoub Group has entered into a joint venture with Italian fashion conglomerate OTB Group to expand the brand’s footprint in the Gulf. OTB (which stands for Only The Brave) owns the Diesel, Jil Sander, Maison Margiela, Marni and Viktor&Rolf brands, the Staff International and Brave Kid companies, and holds a stake in the […]

Arid conditions brought about by the drought in Morocco are affecting the cost of sheep

Drought pushes up sheep price for Eid in Morocco

The price for a sheep in Morocco for the annual sacrifice at Eid al-Adha has increased on average at 10 times the 2.2 percent rate of inflation. A medium-sized female sheep costs MAD4000 ($400) as opposed to MAD3000 last year. This puts it out of range for many families in the country where a high […]

Countryside, Farm, Field

Oman to build agricultural city to enhance food security

Oman will build an agricultural city as part of its food security initiative, a news report said. Saham Agricultural City will cover an area of 65 sq km, with 70 percent dedicated to agriculture and 30 percent to urban development, Oman Daily Observer reported. The city will use advanced technologies such as hydroponics, aeroponics and […]

Rwandan flag carrier RwandAir has access to Qatar Airways’ network due to a code-share agreement with the Gulf airline

Qatar Airways to buy 49% of Rwanda’s flag carrier

Qatar Airways is expected to buy a 49 percent stake in Rwanda’s flag carrier RwandAir as early as July as part of the Gulf airline’s strategy to expand in Africa, according to a media report. Qatar Airways’ purchase will boost Rwanda’s aviation sector and allow RwandAir to expand its operations and fleet, Financial Times reported, quoting […]