Real Estate & Construction
From The Report: Abu Dhabi 2023
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Abu Dhabi’s real estate and construction sectors performed well in 2022, contributing significantly to the emirate’s non-oil growth. Construction expanded by 7.6%, reaching Dh86bn ($23.4bn), or 7.8% of Abu Dhabi’s total GDP. At the same time, the real estate market witnessed an 8.5% increase in transaction values and a 27.2% rise in transaction volumes, reflecting strong market activity.

Several anticipated real estate projects are under way, bolstering the market’s international appeal and adding to supply forecasts for the coming years. Business confidence remains high, creating an environment conducive to further investment in the sector.
Opportunities abound in both the residential and commercial segments, driven by a robust project pipeline, increased foreign direct investment, infrastructure development and the resurgence of tourism. This outlook reflects a dynamic market catering to diverse preferences, benefitting investors, developers and residents.

This chapter contains interviews with Hamad Hareb Al Muhairi, Director-General, Abu Dhabi Housing Authority; Majed Odeh, CEO, Q Holding; and Talal Al Dhiyebi, Group CEO, Aldar Properties.

Articles from this Chapter

Overview

Solid ground: An enhanced regulatory framework and major commercial and residential projects are anticipated to drive growth
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Abu Dhabi’s construction and real estate sectors posted a strong performance in 2022, reflecting the overall positive growth in the emirate. Construction grew by 7.6% to Dh86bn ($23.4bn), contributing 7.8% to Abu Dhabi’s GDP and solidifying its position as one of the most important non-oil sectors of the economy. Concurrently, real estate has seen a flurry of activity, marked by an 8.5% increase in the value of transactions in 2022, coupled with a 27.2% rise in the number of transactions over…

Interview

Community development: Hamad Hareb Al Muhairi, Director-General, Abu Dhabi Housing Authority (ADHA), on financially and environmentally sustainable initiatives to meet rising demand for housing
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Interview:Hamad Hareb Al Muhairi In what ways has recent population growth affected the housing market, and what strategies can address increased demand? HAMAD HAREB AL MUHAIRI: Abu Dhabi is committed to maintaining growth in all economic sectors, including government housing. Based on its role in developing and implementing housing programmes for UAE citizens, and setting related regulations and legislation, ADHA has adopted a flexible business strategy that considers the impact of population…

Interview

Popular appeal: Majed Odeh, CEO, Q Holding, on the key segments and trends propelling growth in the domestic real estate market
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Interview:Majed Odeh How would you evaluate real estate investment opportunities, and which segments are likely to experience high growth in the coming years? MAJED ODEH: The real estate market in the UAE, and specifically in Abu Dhabi, has continued to expand rapidly, with demand experiencing significant growth. This increase is primarily attributable to the country’s strategic vision of attracting a diverse array of investors and workers from around the globe, fostering an environment of…

Analysis

Concrete oases: Urban areas are experimenting with cooling technologies to mitigate the effects of climate change
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With temperatures in cities set to rise in the coming decades, many public and private players in emerging markets are looking to tackle the challenge of extreme heat through technology, sustainable building techniques and the expansion of urban green spaces. Heat Consequences The Covid-19 pandemic helped spur the growth of smart cities, with governments tapping into data-collection infrastructure to track and limit the spread of the virus. Similar technologies are being harnessed to map and mitigate…

Interview

Market landscape: Talal Al Dhiyebi, Group CEO, Aldar Properties, on the technology and sustainability trends shaping demand
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Interview:Talal Al Dhiyebi In what ways is Abu Dhabi’s push for diversification influencing the property market? TALAL AL DHIYEBI: Over the past decade the emirate has intensified its diversification drive, in line with the Abu Dhabi Economic Vision 2030. Key investments span multiple sectors, including education and health care, as well as infrastructure projects such as the airport and Abu Dhabi Global Market. This strategic direction has not only bolstered the economy, but also attracted…