STOCK Abu Dhabi Skyline
A general view of Abu Dhabi. Image Credit: Afra Mubarak Al Nofeli/Gulf News

Abu Dhabi: Abu Dhabi’s real estate sector saw foreign direct investment (FDI) of Dh834.6 million during the first half of 2023, up 363 per cent compared to the same period last year, data showed on Monday.

According to the Department of Municipalities and Transport, Saadiyat Island received the maximum FDI share at 34 per cent, followed by Yas Island (28 per cent), Al Jurf (12 per cent), Al Reem Island (11 per cent), and Al Shamkha (8 per cent).

Dr. Adeeb Al Afifi, Executive Director of the Real Estate Sector at the Department of Municipalities and Transport, said: “We are thrilled to announce the remarkable surge in foreign direct real estate investments in Abu Dhabi. The astounding 363 per cent growth witnessed during the first half of this year is a testament to the emirate’s exceptional appeal to foreign investors. This includes its strategic location, world-class infrastructure, and supportive economic and legislative environment, all of which have contributed to enhancing the emirate’s position as a preferred destination for individuals of all nationalities to invest, live, and work.”

“Abu Dhabi’s investment climate, bolstered by encouraging incentives and robust legislative and regulatory frameworks, has created a nurturing and stimulating environment for foreign investors pursuing promising prospects in the real estate market. Moreover, the emirate’s unwavering commitment to adopting sustainable development policies, innovation, economic diversification, and environmental sustainability has significantly enhanced its ability to attract foreign direct real estate investments.”