Abu Dhabi attracts record levels of foreign investment in 2024

The Abu Dhabi Real Estate Centre (Adrec) announced record foreign direct investment (FDI) in the sector, with 487 individual investors injecting AED 1.81 billion ($482 million) during the first quarter of 2024.

Adrec, the custodian and regulator of Abu Dhabi’s real estate sector, reported that investors from India, Russia, Canada, the UK, Jordan, and China significantly increased their investments compared to the same period last year.

“The performance of Abu Dhabi’s real estate market in the first three months of the year underscores its growing appeal to international investors,” said Rashed Al Omaira, Acting Director General at Adrec.

“The robust growth indicates promising prospects for the remainder of 2024, and Adrec is prepared to offer seamless services and support to all stakeholders in Abu Dhabi’s globally competitive real estate sector,” he noted.

According to Adrec, Abu Dhabi real estate transactions surged to AED 19.4 billion in Q1 across 6,070 transactions.

“AED 12.8 billion came from sales and purchases, making up 66% of the total with 3,724 transactions, while mortgage transactions accounted for AED 6.6 billion with 2,328 transactions,” stated Al Omaira.

This update from Adrec highlights strong investor confidence in Abu Dhabi real estate and the sector’s increasing role in the emirate’s economic diversification vision, he added.

Source: Zawya