Abu Dhabi's real estate sector attracted a record Dh1.81 billion ($493 million) in foreign direct investment in the first quarter of 2024, as demand for property continues to rise in the UAE capital.
As many as 487 investors, from source markets including India, Russia, Canada, the UK, Jordan and China, significantly increased their investments compared to the previous year period, state-owned Wam reported, citing data from Abu Dhabi Real Estate Centre.
The performance highlights the growing attractiveness of the sector to international investors, Rashed Al Omaira, acting director general of Adrec, said.
“The robust growth on show offers encouraging signs for the remainder of 2024, and Adrec stands ready to provide seamless services and support to all stakeholders connected to Abu Dhabi’s globally competitive real estate sector,” Wam quoted Mr Al Omaira as saying.
Abu Dhabi's real estate sector saw transactions totalling Dh19.4 billion in the first quarter, spanning across 6,070 deals.
Of this, Dh12.8 billion came from sales and purchases, accounting for 66 per cent of the total volume with 3,724 transactions. Mortgage transactions amounted to Dh6.6 billion from 2,328 deals.
Launched in November by the Department of Municipalities and Transport, Adrec aims to accelerate growth across the real estate ecosystem in the emirate.
It aims to unify and strengthen the real estate sector in the UAE’s capital through a regulatory framework to boost the efficiency of industry, increase transparency, and provide support for residents, investors and real estate companies.
The property and construction market in the UAE is expanding, driven by initiatives to support economic diversification and increased infrastructure spending to attract foreign direct investment.
According to a report by Mordor Intelligence, the country's construction market is projected to grow from $41 billion in 2024 to over $50.4 billion by 2029.
The ValuStrat Price Index, which tracks changes in property values, increased by 4.2 per cent annually for Abu Dhabi in 2023. The emirate recorded 2,238 off-plan sales transactions last year, accounting for 75.1 per cent of total sales and reflecting a 39.4 per cent rise from the same period in 2022.
Asia Cup 2018 Qualifier
Sunday's results:
- UAE beat Malaysia by eight wickets
- Nepal beat Singapore by four wickets
- Oman v Hong Kong, no result
Tuesday fixtures:
- Malaysia v Singapore
- UAE v Oman
- Nepal v Hong Kong
The story in numbers
18
This is how many recognised sects Lebanon is home to, along with about four million citizens
450,000
More than this many Palestinian refugees are registered with UNRWA in Lebanon, with about 45 per cent of them living in the country’s 12 refugee camps
1.5 million
There are just under 1 million Syrian refugees registered with the UN, although the government puts the figure upwards of 1.5m
73
The percentage of stateless people in Lebanon, who are not of Palestinian origin, born to a Lebanese mother, according to a 2012-2013 study by human rights organisation Frontiers Ruwad Association
18,000
The number of marriages recorded between Lebanese women and foreigners between the years 1995 and 2008, according to a 2009 study backed by the UN Development Programme
77,400
The number of people believed to be affected by the current nationality law, according to the 2009 UN study
4,926
This is how many Lebanese-Palestinian households there were in Lebanon in 2016, according to a census by the Lebanese-Palestinian dialogue committee
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
The 12 Syrian entities delisted by UK
Ministry of Interior
Ministry of Defence
General Intelligence Directorate
Air Force Intelligence Agency
Political Security Directorate
Syrian National Security Bureau
Military Intelligence Directorate
Army Supply Bureau
General Organisation of Radio and TV
Al Watan newspaper
Cham Press TV
Sama TV
In Search of Mary Shelley: The Girl Who Wrote Frankenstein
By Fiona Sampson
Profile
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
