Middle East

Abu Dhabi recorded real estate transactions of 71.5 billion Dhs in 2021

Abu Dhabi City Transport Authority (DMT) reported that Abu Dhabi registered a real estate transaction worth 71.5 billion dirhams in 2021.

With 14,958 sales and mortgage transactions combined, Yas Island is the top-performing region of 4.1 billion dirhams in real estate transactions.

The Ream Islands came in second with 3.2 billion dirhams, followed by Saadiyat with 2.5 billion dirhams.

“The new results reflect Abu Dhabi’s sustainable real estate development and its continued appeal as a major city of investment and living,” said Dr. Adive Arafifi, Executive Director of the DMT Real Estate Sector. increase.

Meanwhile, Abu Dhabi’s largest developer, Aldar Properties, reported sales of 8.58 billion dirhams, up 2% year-on-year, gross profits of 3.6 billion dirhams, and net profits of 2.33 billion dirhams. .. It is also 21 percent more than the previous year. Aldar Development reported sales of 1.1 billion dirhams in the fourth quarter, with annual total sales of 7.2 billion dirhams. Last year, Alder awarded a UAE-based company a development project worth 8.5 billion dirhams. These contracts cover Abu Dhabi’s infrastructure, residential, commercial and multipurpose projects. They have been awarded to 14 different UAE-based contractors.

read: Abu Dhabi’s Alder won a development project contract worth 8.5 billion Dhs in 2021

Earlier this year, Alder signed a contract with a diamond developer to set up a joint venture to develop the sustainable city of Yas Island. Construction of the Dhs18bn project will begin in the fourth quarter of 2022 and is targeted for completion in 30 months. The community spans an area of ​​397,000 square meters in the Yas North area of ​​the island of Abu Dhabi. It consists of 864 townhouses and apartments, and 3,000 square meters of retail space. Sustainable Cities – Yas Island is powered by renewable energy, saving residents up to 100% on energy costs.

https://gulfbusiness.com/abu-dhabi-records-dhs71-5bn-of-real-estate-transactions-in-2021/ Abu Dhabi recorded real estate transactions of 71.5 billion Dhs in 2021

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