May 16, 2021

Premium Newspaper

The Premium News Provider

Al Reem Island is the preferred place for investors in Abu Dhabi during the first quarter of 2021

Dubai: Al Reem Island ranked first in real estate investment in Abu Dhabi in the first three months, recording 1.6 billion dirhams out of a total of 11.5 billion dirhams in transactions recorded by the emirate.

The other centers were Abu Dhabi Island (907 million dirhams), Yas Island (649 million dirhams), Saadiyat Island (446 million dirhams), Khalifa City (225 million dirhams) and Al Raha Beach (196 million dirhams).

The value of real estate transactions amounted to about 5 billion dirhams, from 1755 deals, while the value of mortgage-backed deals exceeded 6.5 billion dirhams resulting from 2,092 transactions. Land made up the majority of mortgages worth 6.2 billion dirhams (96 percent of total value).

Dr. Adeeb Al-Afifi, Executive Director of the Real Estate Sector at the Department of Municipalities and Transport, said: “We are absolutely confident that our long-term approach will contribute to the success and strategy of Abu Dhabi, which has set a prominent global example. On how to overcome the economic, health and social challenges posed by last year’s epidemic.