Emirates: In the first half of 2023, the Foreign Direct Investment (FDI) inflow into Abu Dhabi's real estate sector under the individual category, has reached Dhs 834.6 million setting a new record. This marks a growth rate of 363 per cent compared to the same period in the previous year.

According to data released by the Department of Municipalities and Transport (DMT), five regions topped the list in terms of the highest shares of foreign direct investment by individuals.

This includes Saadiyat Island and Yas Island with 34 per cent and 28 per cent respectively, Al Jurf with 12 per cent, Al Reem Island has 11 per cent, and Al Shamkha area with 8 per cent.

Dr Adeeb Al-Afifi, Executive Director of the Real Estate Sector at the Department of Municipalities and Transport, said: “We are thrilled to announce the remarkable surge in foreign direct real estate investments in Abu Dhabi. The astounding 363 per cent growth witnessed during the first half of this year is a testament to the emirate's exceptional appeal to foreign investors. This includes its strategic location, world-class infrastructure, and supportive economic and legislative environment, all of which have contributed to enhancing the emirate’s position as a preferred destination for individuals of all nationalities to invest, live, and work.”

He highlighted that the rising growth rates in foreign direct real estate investments are a clear testament to the trust international investors have in the emirate’s economy, expecting stable returns over the long term.

He also emphasised the importance of maintaining a well-developed and attractive real estate ecosystem to further attract foreign investors. This ecosystem should consist of efficient processes and good government services, streamlining the inflow of foreign direct investments into Abu Dhabi’s real estate sector.

“Abu Dhabi's investment climate, bolstered by encouraging incentives and robust legislative and regulatory frameworks, has created a nurturing and stimulating environment for foreign investors pursuing promising prospects in the real estate market. Moreover, the emirate’s unwavering commitment to adopting sustainable development policies, innovation, economic diversification, and environmental sustainability has significantly enhanced its ability to attract foreign direct real estate investments,” added Afifi.