UAE's capital Abu Dhabi recorded a significant increase in documented residential rental contracts during the first half of the year with 49,135 contracts registered. This marks an increase of 24,811 contracts compared to the same period in 2023, reflecting a 102% year-on-year growth, reported Wam citing official statistics.

 

According to data from the Statistics Centre—Abu Dhabi, Abu Dhabi alone accounted for 43,985 of these contracts, a 104.9% annual increase from the 21,465 contracts recorded in H1 2023.

 

Al Ain City also saw substantial growth, with a 77% rise in documented rental contracts, reaching 4,819 contracts in 2024 compared to 2,715 contracts in 2023, stated the report. 

 

Meanwhile, the Al Dhafra region reported 331 contracts in H1 2024, up from 144 contracts in the same period last year.

 

June witnessed the second-largest growth in documented contracts on a year-on-year basis, following March's peak increase of 2.9%.