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Abu Dhabi sees real estate transactions worth Dh11.5 bn during Q1 21

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Around 3,847 deals were completed during the period

Abu Dhabi sees real estate transactions worth Dh11.5 billion during the first three months of this year, according to the Department of Municipalities and Transport. Around 3847 deals were completed during the period.

According to the report, lands acquired comprised 66 percent of total sales with a value of Dh3.3 billion made through 777 transactions. The share of real estate units in the total sales value during the same period totalled 34 percent with sales and were valued at Dh1.7 billion, covering 978 transactions.

Dr Adeeb Al Afeefi, Executive Director of the Real Estate Sector in the Department of Municipalities and Transport told the media, “We are fully confident that our long-term approach will contribute to Abu Dhabi’s success and strategy, which has set an outstanding global example on how to overcome the economic, health and social challenges imposed by last year’s pandemic.

“Working closely with our stakeholders and partners across public and private sectors, enabled us to plan and execute sustainable initiatives and procedures in our market. Led by our leadership vision and support, these developments will ensure creating an attractive investment environment aligned with Abu Dhabi Plan and the Abu Dhabi Government Accelerator’s Programme ‘Ghadan 21’ through more stimulus packages and opportunities.”

Last year, Abu Dhabi recorded around 19,000 real estate transactions worth Dh74 billion. It was a 28 percent increase when compared to the Dh58 billion recorded in 2019. Around 11,000 real estate mortgage transactions were completed during the period amounting to Dh44 million.

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