Some residential communities in Abu Dhabi are experiencing record-breaking occupancy levels, and some properties—particularly those in the prime and luxury segments—maintain waiting lists for potential tenants.
“Abu Dhabi’s premium and upscale residential developments, especially those along the coast like Al Raha Beach, Saadiyat, Yas, and Reem Islands, continued to be in high demand. In its second quarter 2024 report, released on Tuesday, real estate consultancy Asteco stated that landlords in these areas had healthy occupancy rates and that some properties even had waiting lists.
With 3.8 million residents last year, Abu Dhabi surpassed Dubai to become the most populous emirate in the United Arab Emirates. Since 2011, the population of the UAE capital has increased dramatically by 83%, which has led to a high demand for apartments from potential tenants.
In the first quarter of 2024 report, ValuStrat reported that 80.7 percent of a sample of 50,000 homes had an average occupancy rate. Nonetheless, a few opulent establishments experience significantly greater occupancy rates.
Asteco data indicates that in Q2 2024, about 2,400 residential units were delivered in the UAE capital, mostly in Masdar City, Al Raha Beach, Jubail Island, Noya on Yas Island, and other locations.
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