Abu Dhabi’s real estate market continued its strong momentum in the third quarter of 2024, as mortgage transactions reached a record $3.7 billion across 2,594 deals. This represents a 20% increase from the previous quarter, highlighting the sector’s strong performance in recent years.

Data from Dari, a digital platform for Abu Dhabi’s real estate sector, shows that the emirate’s property market is thriving, with total real estate transactions reaching $6.2 billion.

During the third quarter, sales reached $2.5 billion from 3,161 real estate units, with $1.1 billion derived from 1,480 completed units and $1.4 billion from 1,681 off-plan units. From January to September, Abu Dhabi’s total real estate transactions amounted to $15.1 billion, facilitated by nearly 18,000 sales and mortgage agreements. Sales constituted $8.3 billion, while mortgages accounted for $6.8 billion.

In the past nine months, 10,440 units were sold, including 4,137 completed and 6,303 off-plan units. Mortgage transactions totaled 7,559. In the last week alone, real estate transaction values exceeded $136 million, comprising $63 million in sales and $99.7 million in mortgage deals.

Recent data from Statista indicates that the UAE real estate market is poised to reach $707.86 billion by the end of 2024.

In the first quarter of 2024, Dubai sold 105 luxury homes, positioning itself to nearly match last year’s record of 431 transactions for properties priced over $10 million. This performance has outpaced other prime markets like New York and London.