During the initial half of 2023, foreign direct investment (FDI) in Abu Dhabi’s property sector experienced a significant surge, soaring by an impressive 363%. Leading the pack in attracting foreign investments were Saadiyat Island and Yas Island, both receiving the highest share of FDI during this period.
In the first half of 2023, Abu Dhabi experienced a remarkable surge in foreign direct investment (FDI) in its real estate sector, reaching Dh834.6 million. This impressive figure represents a substantial 363 percent increase compared to the corresponding period in the previous year, as revealed by the data presented on Monday.
The Department of Municipalities and Transport disclosed that Saadiyat Island emerged as the prime recipient of FDI. Moreover, it secured the largest share of 34 percent. Following closely behind, Yas Island accounted for 28 percent, Al Jurf for 12 percent, Al Reem Island for 11 percent, and Al Shamkha for 8 percent of the total FDI inflow into the real estate sector.
An exceptional surge in foreign direct real estate investments
In light of the exceptional surge in foreign direct real estate investments in Abu Dhabi, Dr. Adeeb Al Afifi, Executive Director of the Real Estate Sector at the Department of Municipalities and Transport, expressed his enthusiasm. The remarkable growth of 363 percent during the first half of the year is a testament to the emirate’s magnetic appeal to international investors. This appeal is due to various factors, including its strategic location, world-class infrastructure, and supportive economic and legislative environment. These elements have solidified Abu Dhabi’s position as the preferred destination for individuals from all nationalities seeking opportunities to invest, reside, and work.
Dr. Al Afifi highlighted that attractive incentives and robust legislative and regulatory frameworks further fortify Abu Dhabi’s investment climate. These aspects create a nurturing and stimulating environment that entices foreign investors to explore promising prospects in the real estate market. Additionally, the emirate’s unwavering commitment to sustainable development policies, innovation, economic diversification, and environmental sustainability has significantly contributed to its ability to attract foreign direct real estate investments.
Thanks/Reference/Source: https://gulfnews.com/