In an interview ahead of his much-awaited IIFA performance, the Bollywood star talks about embracing fatherhood, his craft and more
The total value of Abu Dhabi’s real estate transactions crossed Dh71 billion last year with better growth expected in 2022, a top official said.
A total of 14,958 transactions valued at Dh71.5 billion were made last year reflecting a positive trend amid the pandemic, said Dr Adeeb Al Afifi, executive director of real estate at the Department of Municipalities and Transport.
“It’s positive. There is growth. The demand for real estate clearly grew last year. In 2022, we see better growth,” Dr Al Afifi told Khaleej Times.
The real estate sector recorded 7,262 sales transactions worth Dh18.2 billion and 7,696 mortgage transactions worth Dh53.3 billion.
Dr Al Afifi noted that the figures indicate the investor confidence in Abu Dhabi’s property market.
“We look forward to providing more distinctive and innovative services and providing periodic data and information that will undoubtedly enhance the attractiveness of the Abu Dhabi real estate market.”
Top areas of real estate transactions were: Yas Island (Dh4.1 billion), Al Reem Island (Dh3.2 billion), Saadiyat Island (Dh2.5 billion), Forest Belt Al Jarf project (Dh1.1 billion) and Khalifa City (Dh915 million).
ALSO READ:
“Our strategy shows there will be an increase in transactions in real estate,” he said.
Asked if the prices of property would go up, Dr Al Afifi pointed out that Abu Dhabi is a “free market” and the prices depend on the demand and supply.
“The prices also depend on the developers and the new projects,” he added.
ashwini@khaleejtimes.com
In an interview ahead of his much-awaited IIFA performance, the Bollywood star talks about embracing fatherhood, his craft and more
The actor, who recently dropped the single 'Ittefaq', shared the stage with 'Challeya' singer Shilpa Rao
Fame is a double-sided coin, she explains
The mission has supported more than 4,000 service seekers as part of this initiative
Experts recommended exploring the idea of further reducing working hours to see if it brings even more benefits
Bollywood celebrities have gathered in Abu Dhabi for the grand award show
The captain said he was proud to represent UAE in an international arena
With scores of applications being submitted, authorities have found more ways to provide flexibility to amnesty-seekers