Abu Dhabi registers realty transactions of Dhs71.5 billion in 2021
- Last updated: February 18, 2022 | 16:12
Abu Dhabi has registered real estate transactions of Dhs71.5 billion in 2021, a report by the Department of Municipalities and Transport (DMT) - Abu Dhabi, showed on Friday.
This represents a combined 14,958 sales and mortgage transactions, with Yas Island topping list of best performing areas with Dhs4.1 billion in real estate deals.
Reem Islands comes second with Dhs3.2 billion, followed by Saadiyat, Dhs2.5 billion.
“The new results reflect Abu Dhabi’s sustainable real estate development and ongoing attractiveness as a leading city for investment and living,” said Dr Adeeb Alafeefi, Executive Director of DMT Real Estate Sector.
Meanwhile the Aldar Properties announced recently, that contracts awarded across its development projects in 2021 reached more than Dhs8.5 billion.
The volume and value of work undertaken by Aldar in 2021 highlights an economic rebound in Abu Dhabi following the impact of the pandemic in 2020 and a boost to the emirate as a destination to live, work, and play.
Sixteen contracts were awarded spanning infrastructure, residential, commercial, and mixed-use projects in Abu Dhabi. They were awarded to 14 different UAE-based contractors, resulting in a significant contribution to the local economy. Through these contracts, Aldar has created a positive impact via direct and indirect job creation and supported a broad range of local businesses, in line with the UAE’s National In-Country Value (ICV) programme.
The contracts, which include projects within Aldar’s owned and managed portfolio will see a range of residential units, retail spaces, mosques, new and upgraded roads, landscaping, and renovation work delivered within the next 3 years.
Adel Abdulla Albreiki, Chief Executive Officer at Aldar Projects said: “Aldar continues to be a key strategic partner in enhancing Abu Dhabi’s profile as a world-class destination by delivering on owned and managed projects across the capital. Generating a positive impact on the local economy is a core priority for Aldar, so we are proud to support UAE based businesses in such an impactful way.”
WAM