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Abu Dhabi mortgage deals surge as real estate thrives

By Pramod Kumar
mortgage mortgages Mortgage Real estate transactions in Abu Dhabi reached AED22.7 billion in the third quarter of 2024 Wam/X
Real estate transactions in Abu Dhabi reached AED22.7 billion in the third quarter of 2024

Mortgage transactions in Abu Dhabi rose 20 percent year on year in the third quarter of 2024 amid robust growth in the real estate sector.

The total value of the mortgage deals reached AED13.5 billion from 2,594 transactions, the UAE state-run Wam news agency reported, citing Dari, a unified property services platform.

Overall, real estate transactions totalled AED22.7 billion, with sales amounting to AED9.2 billion. Of this, AED4.1 billion came from 1,480 completed units, while AED5.1 billion was generated by 1,681 off-plan units.

The total value of real estate transactions from January to September reached AED55.6 billion, driven by 18,000 sales and mortgage deals.

Sales accounted for AED30.5 billion, while mortgages contributed AED25.1 billion.

In the past nine months, 10,440 real estate units were sold, including 4,137 completed units and 6,303 off-plan units.

The total number of mortgage transactions during the nine months was 7,559.  

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