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Source: Abu Dhabi Off Plan
Published on 10/29/2024

Abu Dhabi Shows Strong Growth in Real Estate Market

Residential Values Up 5.3% and Office Rents Surge 25% in Robust Market Performance

ValuStrat's latest report highlights significant growth in Abu Dhabi's real estate market for Q3 2024. Residential values increased by 5.3% annually with rents up 5.8%. The ValuStrat Price Index rose 1.7% quarterly, reaching 120.7 points.

Sales of ready properties surged by 18.9% quarterly and 51.1% annually. The office sector also saw strong performance with median sales prices climbing 15.3% annually and asking rents in key areas jumping 25.6% annually. Central business district occupancy rates hit 90.2%.

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In the hospitality sector, Abu Dhabi boasted 34,000 hotel keys and a 79.9% occupancy rate in H1 2024. The Average Room Rate increased by 9.5% while Revenue Per Available Room rose 19.7% year-on-year.

This growth reflects Abu Dhabi's stable and mature market conditions reinforcing its competitive position in the UAE real estate landscape.