The Abu Dhabi Real Estate Centre (ADREC), a dedicated affiliate of the Department of Municipalities and Transport (DMT), reveals a record-breaking total of around AED 87.1 billion in real estate transactions for 2023.
The value of buying and selling activities surged by 159.5% compared to 2022, reaching AED 61 billion. ADREC reported this increase based on 15,653 transactions, representing a 73.7% rise from 2022.
The overall buying, selling, and mortgage activities across the sector increased by 12.2% compared to 2022. The reported results are based on a total of 22,751 transactions, which rose by 19.5% from the previous year’s number of transactions.
ADREC also noted an increase in resident and non-resident individual investors during 2023, which reflects the diversity of Abu Dhabi’s thriving real estate sector. The Emirate saw 9,448 newly registered investors and 1,098 non-resident investors – marking significant increases of 71% and 175% respectively, compared to 2022.
The Abu Dhabi real estate market continues to demonstrate consistent and sustainable growth, in line with our leaders’ vision to maintain the emirate’s global appeal as a prime real estate investment destination. This year’s significant growth compared to 2022 highlights our ongoing achievements and solidifies the emirate’s alluring position, continuous progress, and future expansion.
These results reflect ADREC’s strategic mission to position Abu Dhabi as a global real estate destination and lead the growth of its entire real estate ecosystem. They also demonstrate the strength and potential of the emirate’s real estate sector, which continues to attract both local and international investors, making it a sought-after destination for real estate investment on a global scale. ADREC is tasked with ensuring that Abu Dhabi’s real estate market is the destination of choice for regional and international capital investment, further solidifying its position in the global real estate landscape.
About The Abu Dhabi Real Estate Centre (ADREC)
The Abu Dhabi Real Estate Centre (ADREC), launched by the Department of Municipalities and Transport in November 2023, aims to enhance Abu Dhabi’s position as a global real estate hub and increase the sector’s contribution to the non-oil economy. ADREC leads a significant transformation in Abu Dhabi’s real estate sector, centred around four key pillars: Real Estate Strategy, Real Estate Promotion, Real Estate Regulation, and Real Estate Transactions Management.
ADREC’s focus is on advancing the sector’s ecosystem while giving priority to the well-being of tenants, homeowners, developers, and investors. This involves streamlining processes and enhance regulatory frameworks, while utilising advanced technologies to provide sustainable and seamless services.
Collaborating closely with all stakeholders, the centre aims to elevate development standards and overall liveability in Abu Dhabi.
Moreover, ADREC focuses on innovation, exploring groundbreaking technologies. This comprehensive approach highlights ADREC’s commitment to transparency, innovation, and collaboration, positioning Abu Dhabi as an attractive global destination.
