In 2024, approximately 2,400 new residential units were completed in Abu Dhabi.
The Abu Dhabi real estate market continues to grow in 2024, supported by government initiatives and strong economic fundamentals. In the first half of the year, around 2,400 residential units were delivered in areas such as Noya on Yas Island, Jubail Island, Masdar City, and Al Raha Beach. Several new residential and mixed-use projects are currently in the planning stages, with public launches expected throughout 2024, further expanding Abu Dhabi’s real estate landscape.
Rental Market
Rental rates for apartments increased by 1% quarterly and 2% annually, while villa rents saw a 5% rise over the past year. Prime areas like Al Raha Beach and Saadiyat have high demand and rental rates, whereas lower-end properties remain stable due to attractive lease terms offered by landlords. Grade A offices experienced a significant rental growth of 10% compared to the previous year.
Property Sales
In Q2 2024, Abu Dhabi recorded 2,135 sales transactions, with off-plan sales accounting for 57%. Apartments dominated both off-plan and ready sales, comprising 85% and 75% of their respective segments, with a quarterly increase of 6.8%. Ready property transactions showed healthy growth at 2.8% quarterly and 33.1% annually, while off-plan sales declined by 23.4% annually due to fewer project launches compared to the previous year. Apartment sale prices continued to rise with average quarterly and annual growth rates of 4% and 5%, respectively.
Buying property in Abu Dhabi now is an excellent investment opportunity as the market continues to grow and strengthen due to a stable economy and government initiatives. Increased demand for high-quality residential and commercial properties, especially in prestigious areas, creates favorable conditions for investors. The UAE real estate market shows rising prices and high rental yields, making property purchases particularly advantageous in the current environment.
