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…
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.