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Abu Dhabi Real Estate Centre reports 6% reduction in service and community charges across the emirate in 2023 Abu Dhabi Real Estate Centre (ADREC), part of the Department of Municipalities and Transport – Abu Dhabi (DMT), has reported a 6% reduction in service and community charges for jointly owned property for owners and investors in Abu Dhabi’s real estate sector in 2023, amounting to a total reduction of AED39.7 million compared to 2022. The centre also disclosed that the total value of budgets for jointly owned property development projects that received approvals until the end of the fourth quarter of 2023 reached AED685 million. ADREC indicated that the lowered fees incentivised investors and potential real estate buyers in Abu Dhabi. This initiative not only enhanced the attractiveness of real estate investments in the emirate, but also heightened the sector’s competitiveness. These reductions are anticipated to streamline property management, cut operational expenses, elevate returns on real estate investments, and uphold competitive pricing for homeowners in Abu Dhabi, both locally and regionally. Service charges are used to cover the costs of managing and maintaining communal areas in property developments to sustain high living standards. Property owners must maintain their share of communal areas to avoid these fees, which require ADREC’s approval for imposition on joint property owners in Abu Dhabi under DMT. ADREC’s efforts align with their broader initiatives to elevate the living standards and sustainability in residential compounds for all residents of Abu Dhabi, encompassing citizens and expatriates, as well as aiming to enhance the overall quality of life in the emirate. In 2020, DMT introduced a fee monitoring system to regulate service and community charges, fostering sustainable growth in Abu Dhabi’s real estate sector. This framework safeguards the rights of both owners and developers by ensuring fair pricing. It resulted in service charge reductions by 18.1% in 2020, by 8.3% in 2021, and by over 6% in 2022. Recent Posts All Post Articles Abu Dhabi Real Estate Centre reports 6% reduction in service… September 23, 2024 Abu Dhabi Real Estate Centre partners with Bayut and Property… September 23, 2024 Abu Dhabi Real Estate Centre records AED87.1bn in real estate… September 23, 2024 List your property with Mamzr Real Estate Broker List your property

Abu Dhabi Real Estate Centre partners with Bayut and Property Finder to enhance real estate efficiency The Abu Dhabi Real Estate Centre (ADREC) has partnered with real estate portals, Bayut and Property Finder, to enhance transparency, efficiency, and decision-making in Abu Dhabi’s real estate sector. The centre signed two Memorandum of Understandings (MOU) with its partners to ensure that the end user is presented with accurate, non-conflicting purchase-related information through the combination of these websites. In addition, it will help streamline the efforts of the channel partners within the customer purchase journey. The MoU signing is also useful for enhancing sector services and elevating real estate transparency levels. Rashed Al Omaira, Acting Director General of ADREC, said: “We are pleased to sign these two MOUs with our partners. This move reflects ADREC’s belief in the importance of forging partnerships with both the public and private sectors, aiming to contribute to the development of an integrated system that serves the centre’s vision of positioning Abu Dhabi as a preferred investment destination. This entails providing innovative services, flexible legislation that aligns with sector needs, and ensuring transparent and accessible data for all stakeholders to support investment decisions.” The partnerships aim to enhance real estate market quality and efficiency, introduce advanced solutions for stakeholder security, provide transparent data to customers, and support future sector growth in Abu Dhabi. The partnerships include coordinating programmes and workshops for industry professionals to ensure legal compliance and gather market insights, and monitor real estate advertisements, ensuring compliance with Abu Dhabi’s Real Estate Regulatory Law, as well as addressing regulatory challenges and promoting real estate services locally and globally. The partnership aims to also leverage data-driven cooperation to enable sector partners to gain valuable insights that support the investment decision-making process and enhance real estate transparency. Haider Ali Khan, CEO of Bayut and Dubizzle and the Head of Dubizzle Group MENA, said: “As we initiate this impactful collaboration with the Department of Municipality and Transport in Abu Dhabi, it serves as evidence of our commitment to nurturing innovation, transparency and sustainable advancement within the real estate sector. In tandem with the DMT, our collective goal is to generate meaningful effects that impact the wider community, thereby contributing to the ongoing success of the UAE.” Fouad Bekkar, Group Vice President – Data and Artificial Intelligence, at Property Finder, said: “We are proud of this partnership, which is a testament to Abu Dhabi’s vision, alongside our own at Property Finder, in providing the commitment to promoting trust and transparency in the real estate market. At Property Finder, we have experienced many similar and successful partnerships, and we are looking forward to this joint force helping to pave the way for a vibrant real estate sector, driving sustainable growth and prosperity for the nation becoming is the destination of choice for regional and international capital investment.” Recent Posts All Post Articles Abu Dhabi Real Estate Centre partners with Bayut and Property… September 23, 2024 Abu Dhabi Real Estate Centre records AED87.1bn in real estate… September 23, 2024 Abu Dhabi Real Estate Centre launches first residential Abu Dhabi… September 23, 2024 List your property with Mamzr Real Estate Broker List your property

Abu Dhabi Real Estate Centre launches first residential Abu Dhabi Rental IndeAbu Dhabi Real Estate Centre records AED87.1bn in real estate transactions in 2023 x Abu Dhabi Real Estate Centre (ADREC), a dedicated affiliate of the Department of Municipalities and Transport (DMT), has revealed a record-breaking total of around AED87.1 billion in real estate transactions for 2023. The value of buying and selling activities surged by 159.5 per cent compared to 2022, reaching AED61 billion. ADREC reported this increase based on 15,653 transactions, representing a 73.7 per cent rise from 2022. The overall buying, selling and mortgage activities across the sector increased by 12.2 per cent compared to 2022. The reported results are based on a total of 22,751 transactions, which rose by 19.5 per cent from the previous year’s number of transactions. ADREC also noted an increase in resident and non-resident individual investors during 2023, which reflects the diversity of Abu Dhabi’s real estate sector. The emirate saw 9,448 newly registered investors and 1,098 non-resident investors – marking significant increases of 71 per cent and 175 per cent respectively, compared to 2022. The Abu Dhabi real estate market continues to demonstrate consistent and sustainable growth, in line with our leaders’ vision to maintain the emirate’s global appeal as a prime real estate investment destination. This year’s significant growth compared to 2022 highlights the ongoing achievements and solidifies the emirate’s alluring position, continuous progress, and future expansion. These results reflect ADREC’s strategic mission to position Abu Dhabi as a global real estate destination and lead the growth of its entire real estate ecosystem. They also demonstrate the strength and potential of the emirate’s real estate sector, which continues to attract both local and international investors, making it a sought-after destination for real estate investment on a global scale. ADREC is tasked with ensuring that Abu Dhabi’s real estate market is the destination of choice for regional and international capital investment, further solidifying its position in the global real estate landscape. Recent Posts All Post Articles Abu Dhabi Real Estate Centre records AED87.1bn in real estate… September 23, 2024 Abu Dhabi Real Estate Centre launches first residential Abu Dhabi… September 23, 2024 List your property with Mamzr Real Estate Broker List your property

Abu Dhabi Real Estate Centre launches first residential Abu Dhabi Rental Index The Abu Dhabi Real Estate Centre (ADREC), the regulator of Abu Dhabi’s real estate sector, has launched the first official Rental Index for the emirate. Serving both tenants and landlords, the platform is designed to increase market transparency, provide indicative rental values, and support the stability of the capital’s growing real estate market. The platform offers easily accessible and reliable data on residential, commercial and industrial properties. Indicative quarterly rental pricing is also available on the platform for properties located in areas across Abu Dhabi. Rashed Al Omaira, Acting Director General, ADREC, said: “The Rental Index will energise the rental market in Abu Dhabi and further contribute to the emirate’s competitive edge to attract international investors. We are committed to building a thriving real estate sector, positioning the emirate as a leading investment and real estate destination regionally and globally. “Our mission is to ensure transparency in our practices, and we will continue to work alongside all stakeholders to build and maintain trust in the system.” The Abu Dhabi Rental Index is a continuation of ADREC’s ongoing effort to enhance customer satisfaction in the real estate market, and deliver value to all stakeholders including investors, property owners and tenants. Recent Posts All Post Articles Abu Dhabi Real Estate Centre launches first residential Abu Dhabi… September 23, 2024 List your property with Mamzr Real Estate Broker List your property