Al Reem Island tops as investors' preferred spot in Abu Dhabi during Q1-2021
Mortgage-backed transactions made up bulk of investments during this period
Dubai: Al Reem Island was the top real estate investment spot in Abu Dhabi in the first three months, recording Dh1.6 billion of the overall Dh11.5 billion in transactions recorded by the emirate.
The other top spots were Abu Dhabi Island (with Dh907 million), Yas Island (Dh649 million) Saadiyat Island (Dh446 million), Khalifa City (Dh225 million), and Al Raha Beach (Dh196 million).
The value of real estate transactions came to around Dh5 billion, from 1,755 transactions, while the value of mortgage-backed deals exceeded Dh6.5 billion generated from 2,092 transactions. Lands made up the majority of mortgages with a value of Dh6.2 billion (96 per cent of the total value).
Dr. Adeeb Al Afeefi, Executive Director of the Real Estate Sector in the Department of Municipalities and Transport, said: “We are fully confident that our long-term approach will contribute to Abu Dhabi's success and strategy, which has set an outstanding global example on how to overcome the economic, health and social challenges imposed by last year's pandemic.