The total value of real estate transactions in the Emirate of Abu Dhabi during the past year reached 58 billion dirhams, through 19 thousand transactions that included sales and mortgages of lands, buildings and real estate units for all types of land uses.
According to the Emirates News Agency, a report issued by the Municipalities and Transport Department on the indicators of annual real estate transactions in the emirate showed that the value of sales of total real estate transactions amounted to 20.6 billion dirhams through 10,155 transactions, while the value of mortgages reached 37.4 billion dirhams through 8,663 mortgage transactions.
Real estate sales were distributed over lands, buildings and units, so that lands and buildings accounted for 50% of the total sales in 2019, amounting to 10.3 billion dirhams through 3,424 transactions, while the share of real estate units in the total sales value constituted 50% also through sales of 10.3 billion dirhams of Over 6,731 transactions.
The value of mortgages during the past year amounted to 37.4 billion dirhams through 8,663 mortgage transactions, while the lands and buildings acquired the vast majority of these mortgages with a value of 36.2 billion dirhams, or 96.8% of the total value of mortgages through 7,730 transactions.
The share of real estate units in the total value of mortgages during the past year amounted to 3.2%, at 1.2 billion dirhams, through 933 transactions.
Commenting on these results, His Excellency Hamad Al-Mutawa, Executive Director of Operations Affairs at the Municipalities and Transport Department stressed that the general performance of the real estate sector during the year 2019 is a natural reflection of a number of data and developments taking place in the real estate market, including an increase in the demand for real estate by the end-users of the property who wish In owning housing, with an increasing number of tenants turning into landlords, especially after real estate prices have stabilized in recent years and have attractive offers on the market.
He explained that the appropriate payment plans, offers and various facilities offered by real estate developers during the past year and the low interest rates offered by mortgage loan providers from banks and financing institutions contributed to increasing the number of real estate deals and enhancing the confidence of buyers and investors in this sector.
Al-Mutawa asserted that the wise leadership's keenness to take many decisions in support of economic development and the investment environment in the emirate, including the Abu Dhabi Development Accelerators Program tomorrow 21 and the decision to allow foreign investors free ownership in the investment areas in the Emirate of Abu Dhabi as well as amending the laws and legislations for long-term residence visas and residence visas For real estate buyers and a number of reforms, procedures and other decisions related to the real estate market, which increased the competitiveness of the local economy and reflected positively on the movement of the real estate market.
