Real Estate Markets in the UAE Keep Thriving – Abu Dhabi Amongst Key Destinations

The UAE’s real estate sector, including office and residential markets, has witnessed robust demand and growth and is set to continue to thrive; this was highlighted on the ArabianBusiness.com website in October last year as it focused on the findings of a report by Asteco. Abu Dhabi was one of the main destinations where such expansion was seen. This included the delivery of more than 1,000 apartments and the launch of new projects such as Yas Park Gate; interestingly, in November 2022, Yas Park Gate was already sold out with AED 1.1 billion being raised in sales.

This dynamic real estate sector is complemented by strong demand in the tourism and hospitality industries for travellers looking to stay at 5-star hotels in Abu Dhabi. These include properties like Anantara Eastern Mangroves Abu Dhabi Hotel that cater to business and leisure trips alike. Real estate growth was also seen in Dubai which had a notable 2022 third-quarter increase in villa supplies, while more than 6,000 apartments were delivered as well. Meanwhile, an increase in apartment sales prices and rental rates was seen in the Al Ain and Northern Emirates real estate market too; this included places like Sharjah which in the third quarter last year recorded a 23% property growth in transactions due to more demand.