Abu Dhabi registered real estate transactions worth Dh71.5 billion ($19.4bn) in 2021, as the UAE's property market continues to rebound from the coronavirus-induced slowdown.
The total number of transactions across sales and mortgage deals reached 14,958 last year, Abu Dhabi's Department of Municipalities and Transport said in a report.
Yas Island topped the list of best-performing areas, registering Dh4.1bn in deals, followed by Reem Island (Dh3.2bn) and Saadiyat Island (Dh2.5bn).
“The new results reflect Abu Dhabi’s sustainable real estate development and ongoing attractiveness as a leading city for investment and living,” said Adeeb Alafeefi, executive director of real estate at the department.
The UAE's property market has made a strong recovery from the Covid-19 slowdown on the back of government reforms such as the new residency visa programme for retirees and the golden visa initiative, revised laws on business ownership and changes to the labour law.
Pent-up demand and improved investor sentiment have also helped to drive up property sales amid the pick-up in economic activity.
“The changes are being well received, a trend that is expected to continue in the short-to-medium term [in Abu Dhabi]," a report by real estate company Asteco said.
Villas, in particular, enjoyed strong demand in 2021, with sales prices recording an average annual growth of 14 per cent last year, driven by existing communities on Saadiyat Island and Yas Island.
“The lack of high-quality completed villas available for sale in the market has helped boost sales prices. New off-plan villa projects and completed villas continued to be well received, with an emphasis on the popular high-quality villa communities,” Asteco said.
Apartment sales also rose, mainly during the second half of the year, with average prices up 2 per cent a year, it said.
The capital values of villas and apartments in Abu Dhabi rose to their highest level in five years in the fourth quarter of 2021, according to property consultancy ValuStrat.
The ValuStrat Price Index (VPI) for Abu Dhabi, which monitored five villa communities and five apartment areas in the emirate, jumped 11 per cent on an annual basis to 70.2 points in December.
About 7,300 residential units, including 7,000 apartments and 300 villas, were handed over in the capital last year, according to Asteco. Most of this supply was delivered in Al Raha Beach and on Yas Island and Reem Island.
To cater to growing demand, close to 8,500 apartments and 300 villas are expected to be ready this year, it said.
“Several new project announcements are expected in 2022,” the report said.
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Brief scoreline:
Toss: South Africa, elected to bowl first
England (311-8): Stokes 89, Morgan 57, Roy 54, Root 51; Ngidi 3-66
South Africa (207): De Kock 68, Van der Dussen 50; Archer 3-27, Stokes 2-12
Killing of Qassem Suleimani
Important questions to consider
1. Where on the plane does my pet travel?
There are different types of travel available for pets:
- Manifest cargo
- Excess luggage in the hold
- Excess luggage in the cabin
Each option is safe. The feasibility of each option is based on the size and breed of your pet, the airline they are traveling on and country they are travelling to.
2. What is the difference between my pet traveling as manifest cargo or as excess luggage?
If traveling as manifest cargo, your pet is traveling in the front hold of the plane and can travel with or without you being on the same plane. The cost of your pets travel is based on volumetric weight, in other words, the size of their travel crate.
If traveling as excess luggage, your pet will be in the rear hold of the plane and must be traveling under the ticket of a human passenger. The cost of your pets travel is based on the actual (combined) weight of your pet in their crate.
3. What happens when my pet arrives in the country they are traveling to?
As soon as the flight arrives, your pet will be taken from the plane straight to the airport terminal.
If your pet is traveling as excess luggage, they will taken to the oversized luggage area in the arrival hall. Once you clear passport control, you will be able to collect them at the same time as your normal luggage. As you exit the airport via the ‘something to declare’ customs channel you will be asked to present your pets travel paperwork to the customs official and / or the vet on duty.
If your pet is traveling as manifest cargo, they will be taken to the Animal Reception Centre. There, their documentation will be reviewed by the staff of the ARC to ensure all is in order. At the same time, relevant customs formalities will be completed by staff based at the arriving airport.
4. How long does the travel paperwork and other travel preparations take?
This depends entirely on the location that your pet is traveling to. Your pet relocation compnay will provide you with an accurate timeline of how long the relevant preparations will take and at what point in the process the various steps must be taken.
In some cases they can get your pet ‘travel ready’ in a few days. In others it can be up to six months or more.
5. What vaccinations does my pet need to travel?
Regardless of where your pet is traveling, they will need certain vaccinations. The exact vaccinations they need are entirely dependent on the location they are traveling to. The one vaccination that is mandatory for every country your pet may travel to is a rabies vaccination.
Other vaccinations may also be necessary. These will be advised to you as relevant. In every situation, it is essential to keep your vaccinations current and to not miss a due date, even by one day. To do so could severely hinder your pets travel plans.
Source: Pawsome Pets UAE
Killing of Qassem Suleimani
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
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