Media ININ Economy We Trust
Media In 16-04-2019
HE Saif Mohammed Al Hajri, Head of the Department of Economic Development, said that the real estate sector in Abu Dhabi has witnessed rapid growth in recent years as a result of its success in attracting large investments in government and private development and construction projects. It has become one of the most dynamic and important sectors in the economic sectors in the Emirate. To accelerate the growth and diversification of the structure of the economy and increase the GDP of the Emirate.
HE Mr. Saif Al Hajeri said that the real estate sector is one of the most important sectors contributing to non-oil production in 2018. With a contribution of 8.2% in gross domestic product over the past year.
The construction sector recorded a growth of AED 6 billion in total foreign direct investment by the end of 2018 by 5% in 2018, reflecting the stability of the sector in terms of the Abu Dhabi Residential Price Index. The monthly change rate for the period from January to December 2018 was between 1.06% and 0.92%. The decline in rental prices during the last half of 2018 contributed to reducing the living burden on the consumer and reducing the costs of the investor.
He added that the continued success of Cityscape in Abu Dhabi with the same momentum, presence, participation and support reflects the importance of the real estate sector in the Emirate of Abu Dhabi, which continues to attract a large number of investors and developers with the interest and support of the Government of the Emirate of Abu Dhabi in the expansion and urban planning of new residential and commercial cities.
