Abu Dhabi real estate deals hit $4bn during first quarter

JIIC/Wam

• New beachfront development announced
• More than 5,000 sales and mortgages
• Launch of Bada Al Jubail project

The value of real estate deals in Abu Dhabi reached almost AED16 billion ($4 billion) during the first quarter of the year as another beachfront community was launched in the emirate.

There were over 5,000 sales and mortgage transactions in Abu Dhabi during the first three months of the year, according to data from the Department of Municipalities and Transport.

This included 1,000 ready-made real estate units and 1,700 off-plan properties. The 2,000-plus mortgage deals secured in Q1 were worth almost AED6.5 billion.

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It comes as Jubail Island Investment Company (JIIC) announced the AED4 billion Bada Al Jubail project on Jubail Island.

• Abu Dhabi launches $953m housing project for citizens
• Nobu penthouse shatters Abu Dhabi sales record
• Abu Dhabi residential sales buoyed by off-plan purchases

Over the past week the top transactions were completed in Saadiyat Island and Yas Island for Aldar Properties projects. The total value of transactions on Yas Island amounted to more than AED23 million, while the one on Saadiyat Island totalled AED14 million.

In 2023 Abu Dhabi’s residential sector had one of the best years on record, where a total of 11,200 units were sold across the capital, up 83 percent year on year, according to Savills.