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In terms of total sales Al Reem Island had the highest value.
The Department of Municipalities and Transport of Abu Dhabi has reported that real estate transactions in the emirate amounted to USD 3.1 billion during the first three months of 2021.The recorded value included approximately 3,847 deals with lands, buildings and units.
According to the department's first report this year, the value of 1,755 real estate transactions amounted to around USD 1.3 billion, while the value of 2,092 mortgage transactions exceeded USD 1.7 billion.
In terms of total sales Al Reem Island had the highest value – at about USD 435 million, followed by Abu Dhabi Island (USD 246 million). Yas Island came third in terms of total sales (USD 176 million), followed by Saadiyat Island (USD 121 million), Khalifa City (USD 61 million), Al Raha Beach (USD 53 million) and other regions of the emirate.
Real estate sales during Q1 2021 were distributed across land, buildings and units. Land transactions acquired 66% of the total sales during the period with a value of USD 898 million made through 777 transactions. The share of real estate units in the total sales value during the same period was 34% with 978 transactions standing at USD 462 million.
Lands comprised the majority of mortgages with a value of USD 1.6 billion (96% of the total value), while the share of real estate units in the total value of mortgages accounted for 4%, equating to around USD 65 million and 156 transactions. Mortgages exceeded USD 1.7 billion, reflecting banks confidence in Abu Dhabi’s real estate market with a positive outlook.
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