Abu Dhabi real estate transactions hit Dh12.3b

Mortgage transactions in April post a 550% hike compared to last month

Real estate transactions processed within the Municipality of Abu Dhabi City are showing signs of a remarkable increase to Dh12.3 billion with a deep contrast in the size of mortgage and sales transactions of real estates, land and properties made last month.

Property mortgages in April amounted to Dh11.9 billion, a 550 per cent increase over March, and sales topped Dh241.2 million.

The Lands Division of the Municipality of Abu Dhabi City processed more than 30 inheritance registration transactions in April.

They included 26 withdrawal and merger transactions, 721 data amendment transactions, 54 allocation transactions, 9 land division transactions, and 21 waiver transactions.

Share of mortgages

Real estate mortgages comprised 137 transactions, 19 mortgage amendments and 57 mortgage redemptions, taking the value of mortgage transactions to more than Dh11 billion, and sales topped 60 transactions with a total value of Dh241 million.

Sales included two commercial land plots amounting to Dh27 million and four agricultural plots worth Dh10.4 million.

Sales of residential land plots also increased with 42 plots sold for about Dh116 million.