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Abu Dhabi Sees 102% Surge in Residential Rental Contracts in H1 2024

Robust Rental Market Growth with the Capital Leading the Way
Victoria DickinsonBy 1 Min Read

What To Know

  • The increase has been noted that the contract was 49,135 resulting in the contract registration in Statistics Centre—Abu Dhabi up to 102 percent than the 24,324 contracts in the similar period of 2023.
  • Owing to this growth rate the city of Abu Dhabi recorded the highest number of 43, 985 registrations categorized under this segment registering a record 104.
  • For the cases recorded year-on-year, there was the second highest growth in documented contracts in June 2024, next to the spike observed in March.

According to the Emirates News Agency (WAM), Abu Dhabi has witnessed a spectacular increase in the signed/document residential rental contracts during January-June 2024. The increase has been noted that the contract was 49,135 resulting in the contract registration in Statistics Centre—Abu Dhabi up to 102 percent than the 24,324 contracts in the similar period of 2023.

Owing to this growth rate the city of Abu Dhabi recorded the highest number of 43, 985 registrations categorized under this segment registering a record 104. 9 percent increase to the 21, 465 contracts recorded for the first half of 2023. The same was the trend in Al Ain City animal with 4,819 contracts 77 % higher than in similar period of 2023- 2,715. Al Dhafra region also recorded better performance registering 331 contacts as against 144 in the previous year.

For the cases recorded year-on-year, there was the second highest growth in documented contracts in June 2024, next to the spike observed in March.

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Victoria Dickinson is a seasoned journalist at Dubai.News, specializing in real estate and business news. With over a decade of experience in the industry, Victoria has a keen eye for market trends and an in-depth understanding of the economic factors influencing the real estate sector. Based in Dubai, she provides insightful analysis and comprehensive coverage of the region's dynamic property market, from luxury developments to emerging business hubs. Victoria's background in economics and finance, coupled with her passion for storytelling, allows her to deliver news that is both informative and engaging. Her articles not only inform but also help readers make well-informed decisions in the competitive real estate landscape. Outside of her professional work, Victoria enjoys exploring Dubai’s diverse neighborhoods and attending industry events to stay ahead of the latest developments.

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