ABU DHABI REAL ESTATE TRANSACTIONS HIT AED 16 BILLION IN THIRD QUARTER OF 2021

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Abu Dhabi: The Department of Municipalities and Transport (DMT) has announced that the third quarter 2021 report for real estate transactions in Abu Dhabi reached AED 16.2 billion. The value was accounted for by 3,932 real estate transactions involving land, buildings and units, of which 1,708 accounted for AED 4.6 billion, while an additional AED 11.6 billion was generated by 2,224 mortgage transactions. 

Yas Island topped the Q3 2021 report with the highest value in terms of total sales at AED 1.1 billion, followed by Saadiyat Island with total sales of AED 705 million, AL Jarf Forest Belt in third place with AED 658 million, followed by Al Reem Island with AED 485 million and Khalifa City with AED 237 million, with the balance of sales spread across various other regions in the Emirate of Abu Dhabi.

His Excellency Dr. Adeeb Al Afeefi, Executive Director of the Real Estate Sector at DMT, said: “Abu Dhabi’s real estate transaction results for the third quarter of 2021 demonstrate the strength of the emirate’s sustainable economy and the extent of its effective response to the stimulus measures and economic incentives adopted by our leaders, reflecting DMT’s efforts to deliver on their vision to strengthen Abu Dhabi’s position as one of the world’s leading destinations for investment, living and stability, and to build integrated communities with the best services and infrastructure, thus contributing to sustainable prosperity and promote an improved quality of life in the Emirate of Abu Dhabi.” 

About Department of Municipalities and Transport:

The Department of Municipalities and Transportation (DMT) was established by Law No. 30 of 2019 and is the entity responsible for managing the urban planning and transport sectors, and three regional municipalities.

As the entity responsible for supporting the growth and urban development of the Abu Dhabi Emirate, the DMT guides, regulates and monitors urban development activities. The expert authority improves municipal work to provide comprehensive services and creates higher living standards for residents through the supervision and management of the municipalities.

The DMT ensures the highest standards of safety, security, sustainability and technological developments of land, air and maritime transport networks of the Emirate, in line with the highest international standards and UAE legislation.

One of the DMT’s top priorities is to fulfil the vision of H.H. Sheikh Khalifa bin Zayed Al Nahyan, President of the United Arab Emirates and Ruler of Abu Dhabi, which draws on the vision of our UAE Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan.