Abu Dhabi, UAE: Foreign direct investment (FDI) by individuals into Abu Dhabi’s property sector soared to Dh834.6 million during the first half of 2023, the Department of Municipalities and Transport (DMT) has announced.
This remarkable figure represents an astounding increase of 363 percent compared to the same period in 2022, setting a new record.
Top 5 regions
Data released by the DMT reveals the top five regions that attracted the highest shares of foreign direct investment by individuals. Saadiyat Island led the way with 34 percent, followed closely by Yas Island with 28 percent. Al Jurf secured 12 percent, while Al Reem Island and Al Shamkha area accounted for 11 percent and 8 percent, respectively.
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Dr Adeeb Al-Afifi, Executive Director of the Real Estate Sector for the Department of Municipalities and Transport, expressed his delight at the remarkable surge in foreign direct real estate investments in Abu Dhabi.
He attributed the extraordinary growth of 363 percent in the first half of the year 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 contribute to enhancing Abu Dhabi’s position as the preferred destination for individuals of all nationalities to invest, live, and work.
Substantial growth rate
Dr Al-Afifi highlighted the investment climate in Abu Dhabi, characterized by encouraging incentives and robust legislative and regulatory frameworks. This nurturing and stimulating environment has paved the way for foreign investors to explore promising prospects in the real estate market.
Furthermore, Abu Dhabi’s unwavering commitment to sustainable development, innovation, economic diversification, and environmental sustainability has significantly amplified its ability to attract foreign direct real estate investments.
The substantial growth rates in the volume of foreign direct real estate investments reflect the confidence international investors place in Abu Dhabi’s economy and its ability to deliver long-term returns.
Dr Al-Afifi affirmed the emirate’s commitment to building a comprehensive and alluring real estate ecosystem for foreign investors.
This ecosystem will be characterised by streamlined processes and seamless government services, facilitating foreign direct investments in Abu Dhabi’s real estate sector.
The Department of Municipalities and Transport has stated it remains steadfast in its dedication to bolstering Abu Dhabi’s position as a global hub for real estate investment.
By continuously enhancing the investment landscape and providing a supportive framework, the emirate is poised to capitalize on its compelling value proposition, attracting investors from around the world who seek lucrative opportunities and a thriving real estate market.