Abu Dhabi Witnesses $23.7 Billion Worth of Real Estate Transactions in 2023.

Abu Dhabi experienced an exceptional surge in its real estate market in 2023, with transaction values skyrocketing to AED 87.1 billion ($23.7 billion), marking a massive 159.5% enhancement from the year prior. The volume of trades, including purchases, sales, and mortgages across the sector, saw an uplift of 12.2%. The total number of transactions concluded reached 22,751, indicating a growth of 19.5%.

The ValuStrat Price Index (VPI) for the Abu Dhabi residential market showed an annual increase of 4.2%. The villa market experienced growth, with figures showing 1.7% over the quarter and 5.7% on an annual basis, whereas apartment values rose by 2.7% over the same yearly period.

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ADREC aims to establish Abu Dhabi as a premier destination for real estate on a global scale while driving the development of the real estate market as a whole. The results reflect the strength and potential of the Emirate’s real estate sector, which continues to attract both domestic and foreign investors, making it a popular destination for real estate investment globally.

In 2023, the construction sector in the United Arab Emirates demonstrated robust growth, reaching a valuation of $94 billion. It is expected to achieve an average growth rate of more than 3% annually from 2025 to 2028.

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