The Department of Municipalities and Transport (DMT) announces the record-breaking Foreign Direct Investment (FDI) of AED 834.6 million from the first half of 2023. It is equivalent to a 363% high from the same period in 2022.
Data released by DMT shows the top five residential areas in Abu Dhabi with the highest shares of foreign direct investment by individuals. Saadiyat Island ranks first with 34%, followed closely by Yas Island with 28%. Third comes Al Jurf with 12% and Al Reem Island and Al Shamkha area accounted for 11% and 8% respectively.
Dr Adeeb Al-Afifi, Executive Director of the Real Estate Sector for the Department of Municipalities and Transport attributed the incredible growth to the capital’s appeal to international investors – its strategic location, world-class infrastructure and its booming economic and legislative environment. These things pushed Abu Dhabi’s position as a preferred destination for individuals around the world to invest, live and work in the emirate.
Dr Al-Afifi also shared that the investment climate is characterised by encouraging incentives and robust legislative and regulatory frameworks. With this, foreign investors are exploring the promising prospects in the real estate market. In addition, Abu Dhabi’s commitment to produce sustainable developments, innovation, economic diversification and environmental sustainability have played a major role in attracting foreign direct real estate investments.
The growth rates in terms of volume of foreign direct real estate investments is also a reflection of the confidence international investors have in Abu Dhabi’s economy and its ability to deliver long-term returns.
Dr Al-Afifi reiterates that Abu Dhabi will continue to commit to build an attractive real estate ecosystem for foreign investors.
The Department of Municipalities and Transport stressed that it will remain committed and dedicated to pushing Abu Dhabi as a global hub for real estate investment.