Metropolitan Capital Real Estate Reports Record Third Quarter Sales in Abu Dhabi

Metropolitan Capital Real Estate (MCRE) announced on Wednesday that it had recorded the most successful third quarter in the company’s history.

The company, a subsidiary of the Metropolitan Group, recorded more than 500 million dirhams in sales in the third quarter, an increase of 200% compared to 2021 with record months in August and September. It recorded more than 150 million Dh in sales in August, a growth of 180% compared to last year. This was then followed by a record month for September when the company broke its monthly sales record by registering more than 250 million dirhams in sales, representing a growth of 200% for the month on an annual basis.

Evgeny Ratskevich, CEO of Metropolitan Capital Real Estate, said the Abu Dhabi real estate market has grown tremendously and has become a truly attractive opportunity for investors and residents over the past year.

“Summer is usually quite quiet, but this year the Abu Dhabi market has seen significant activity, with UAE nationals and residents accounting for most of our transactions in Q3,” he said. .

“Off-plan transactions have always been the most popular, but the secondary market has recently taken off, prompting us to expand the size of our dedicated secondary market team to meet demand. The most popular locations for sales remain Yas Island, Al Saadiyat Island, Al Reem Island, Khalifa City, Al Raha Beach which account for 80% of our sales,” he said.

Abu Dhabi’s property market has always been resident-driven, with up to 80% of property purchases made by Emiratis or residents. However, Abu Dhabi’s growing attractiveness as a safe city for families and competitive for business and investment has contributed to its appeal to international buyers.

In June, MCRE saw a significant increase in international client activity, with 70% of its transactions coming from international clients. Investors showing the most interest in real estate in Abu Dhabi were business owners and senior executives from the CIS region and Western European countries such as Germany, France, Italy , Austria and Switzerland.

In the first four months of the year, MCRE saw a 50% increase in the number of international buyers compared to 2021, with nearly 90% of buyers choosing to move to the city with their families.

The Metropolitan group in the United Arab Emirates comprises two full-service real estate agencies: Metropolitan Premium Properties (Dubai) and Metropolitan Capital Real Estate (Abu Dhabi). The group also has Metropolitan Consulting FZE, a support company that provides legal services to individuals and businesses in the UAE.

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