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Abu Dhabi’s real estate market is booming, with sales expected to hit all-time highs and a record number of new real estate development projects being introduced. Sales in Abu Dhabi’s real estate market grew by 54.4% in 2022, according to market data, with fourth-quarter sales increasing by a record 51.2% year over year (YoY).
The United Arab Emirates is defying global trends. Despite global economic challenges, the country’s real estate market and investment destination status has not wavered, and in fact, it has strengthened thanks to an influx of long-term investments backed by solid confidence in the country’s improving economy. International investors have shown a lot of interest in the off-plan market, which has contributed to the strong demand for real estate in Abu Dhabi. The United Arab Emirates (UAE) launched its Golden Visa program in 2018 to attract international entrepreneurs and investors who want to live and work in the region. The luxury market has also benefited from rising demand and prices. The off-plan market saw the most valuable transactions take place on Yas Island, while Al Saadiyat Island was the most active area.
The off-plan real estate market in the United Arab Emirates (UAE) has continued its rapid growth this year. In January, there were 5,000 off-plan sales, which is a 90 percent increase from the same month last year. From January 2022 (when its value was AED5.3 bn) to January 2023 (when it was AED12.1 bn), the industry saw an increase of over 130%. Additionally, due to the rising interest in UAE real estate, builders have been making lots of announcements. In 2022, the number of planned developments had increased to 27,000 units, all of which would be constructed over the subsequent years. For instance, with the UAE property market recovering, Abu Dhabi’s largest listed developer has announced plans to launch a dozen new projects in 2023.
Racing against time
Due to the increasing number of developments in Abu Dhabi, investors are looking for resources to keep them abreast of the most recent off-plan offerings. They should be updated on their status and expected completion dates regularly. The available data suggests that purchasers must move quickly. Some developments are sold at a disadvantage to those who wait too long. More than 500 pre-construction homes in Sustainable City – Yas Island’s first phase of development were purchased in just 24 hours in January, resulting in $272 million in sales. Expats accounted for roughly three-quarters of the buyers, while foreign investors accounted for nearly one-fifth.
The painless method for monitoring the property market
To address this difficulty, DARI has introduced a Project Directory that lists all active real estate development projects in Abu Dhabi, complete with information about each project’s scope, budget, stakeholders, and schedule. Investors can use the database to research potential opportunities, monitor projects’ development, and keep in touch with pivotal parties. As an added bonus, it aids in the discovery of any problems that could crop up later in the project’s timeline.
The DARI Project Directory is where you can find the most recent details on:
- The project’s name
- The location, goals, and scale of the project
- The details about the project’s budget, both predicted and actual
- The current project status (off-plan or completed)
- Percentage-wise update on current project status (for off-plan projects)
- The project’s expected date of completion (for off-plan)
How to use DARI’s Project Directory
To view the Project Directory, simply sign in to your DARI account. From there, you will have access to a comprehensive, regularly updated database of all Abu Dhabi construction projects. That’s all there is to it!
Rising before the sun
The proverb goes that “he who seizes the day wins”. In no other industry is this more true than in real estate. Following off-plan developments allows investors, buyers, and real estate professionals to spot promising opportunities and make educated decisions before the general public is made aware of them.
By anticipating and capitalizing on emerging trends before they become common knowledge, buyers gain an advantage over the competition. If you want to get ahead of the curve and make smart property investment decisions, our Project Directory has everything you need.
