Abu Dhabi Property Transactions Double as Off-Plan Demand Surges

Abu Dhabi’s real estate market recorded a 100% year-on-year increase in transaction volumes during the first half of 2024, as a surge in new project launches and off-plan sales continues to dominate the capital’s property landscape. Total transaction values reached AED 46.3 billion during the period, underpinned by high demand for luxury residential units. Off-Plan Sales Drive Growth Data from the Department of Municipalities and Transport (DMT) confirms that the market saw 12,439 transactions in the first six months of the year. Off-plan properties accounted for the majority of this activity, representing approximately 75% of all residential sales. Investors targeted prime locations including Yas Island, Saadiyat Island, and Al Reem Island, where developers have introduced several high-end waterfront projects. The volume of off-plan transactions reached 9,250 deals, a sharp rise compared to the same period in 2023. This growth is linked to the increased frequency of new launches by major developers, who are responding to a supply-demand imbalance in the luxury and mid-market segments. The total value of these off-plan deals surpassed AED 30 billion. Secondary Market Performance…