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Post: Foreigners are reviving property sales in Abu Dhabi


Said Al Hajar (Abu Dhabi)

Demand from foreign investors to buy property in Abu Dhabi has increased, with many projects attracting buyers with competitive advantages amid a significant increase in international investor participation in new property projects.
Real estate officials told Al-Ittihad that the new real estate projects in Abu Dhabi have attracted a large number of foreign investors, considering the country’s security and stability, as well as the high returns on investment in real estate. In addition to receiving many economic incentives, including, above all, new residency regulations and golden visas for real estate investors.
Al-Dar Properties recently revealed that sales to overseas clients reached a record AED1.8 billion in 2022, confirming the growing demand from international investors and buyers, which boosted Al-Dar’s registrations last year to an all-time high. , the highest level. Annual sales of Dh14.4 billion, of which Dh11 billion are sales from the company’s projects in the UAE.
In January last year, Aldar revealed the sale of all residential units in the first phase of the “Sustainable City – Yas Island” project, which comprises 512 residential units, worth more than one billion dirhams. of which live abroad, reflecting the company’s growing international customer base.
Real estate trade indicator results released by the Department of Municipalities and Transport showed an increase in the volume of real estate transactions last year by around 8.5%, totaling MAD 77.6 billion, achieved through 19,033 transactions and included. Transactions and mortgages of all types of land, buildings and real estate units.

high demand
Aldar Properties Group CEO Talal Al Dhiyebi said the company’s development projects have seen significant growth in demand from international buyers as sales from overseas clients reached a record AED 1.8 billion, which confirms the growing demand from international investors and buyers. , especially making Abu Dhabi a global investment destination.
He highlighted the company’s focus on launching new projects that attract different segments of local and foreign investors. Yas Golf Collection, Yas Park Gate, Yas Park Views, Yas Acres North Bay, Vie Al Riman and Reflection.
Last October, the Abu Dhabi Residents Office of the Department for Economic Development – ​​Abu Dhabi signed a collaboration agreement with Aldar Properties to enhance the Gold Residence Program portfolio of features and offerings, with the parties working to support the agreement. Aldar Clients for Golden Residence Referrals. It is when properties worth more than 2 million dirhams are acquired from real estate projects belonging to the company’s portfolio, such as “Yas Acres”, “Mayan”, “Louvre Abu Dhabi Residences” and others.
Most of Aldar’s projects have registered strong sales abroad. At the end of last year, the company revealed the sale of all units of the first three residential buildings launched in the first phase of the “Grove District” project on Saadiyat Island. Total sales of MAD 600 million, with acquisitions from non-Saudi buyers. Residents accounted for 37% of total sales, representing the highest demand rate in this category for any Aldar project, indicating Abu Dhabi’s attractiveness as a preferred investment destination for international clients.
The company said that domestic buyers accounted for 27% of the project’s sales, while Emirati customers accounted for the remaining percentage.

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favorite destination
For his part, Dr. Hossam Al-Amiri, general manager of Baraka Real Estate Development Company, said: The UAE is a preferred destination for international investors in all sectors, especially real estate, in terms of accessibility and security. , and quality of life, in addition to the high profitability of real estate investments in the country.
Al-Amiri hoped that the new residency regulations and the granting of golden residency to real estate investors would attract more foreign investors to buy property in Abu Dhabi, boosting activity in the real estate market, indicating many advantages. Abu Dhabi will become a preferred investment destination for foreign real estate investors due to the variety of projects and prices, competitiveness and availability of high quality infrastructure.
Al-Amiri explained that most of the buyers of the Yas Bay project, which the company is developing on Yas Island, are foreigners, whether residents in the country or investors from abroad, noting that the first phase of the project includes around 230 residential units and most of them have already been sold. , approximately installations, with the company preparing to start a new phase of the project shortly, which includes around 140 residential installations.

attractive business environment
Last month, Q Holding Company signed a strategic agreement with the Abu Dhabi Residents Office of the Abu Dhabi Department of Economic Development to promote real estate investment and community development in the capital, Abu Dhabi.
Pursuant to the agreement, the Abu Dhabi Residents Office will support the submission of applications for the Abu Dhabi Gold Residency to all clients and investors in the Reem Hills project on Al Reem Island, Abu Dhabi, one of Q. Q Holding When buying property worth AED 2 million or more.
Majed Odeh, CEO of Q Holding Group, said: This move is in line with the wise leadership’s vision to attract investment to the country, create an ideal business environment for investors and entrepreneurs, and broaden their business horizons. golden residence.
Last month, Q Properties launched the new phase of its ‘Reem Hills’ project, Al Reem Island in Abu Dhabi, comprising 593 residential units, including detached villas, townhouses and ‘detached’ villas, which have since been sold. to throw.
In September last year, Q Real Estate announced the sale of all residential units in the first and second phases of the Reem Hills project, as the first phase included around 221 residential villas, while the second phase included around 166 villas.

Source: Al Ittihad

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