Latest news with #ADREC
Arabian Business
13-06-2025
- Business
- Arabian Business
Abu Dhabi announces major new real estate laws
Abu Dhabi has announced major updates to real estate legislation, as part of the emirate's long-term strategy to enhance its position as a leading global hub for property investment. The changes by the Department of Municipalities and Transport (DMT) aim to create a more transparent, flexible, and sustainable legislative environment, supporting developers while safeguarding investor rights. The updated framework will empower the Abu Dhabi Real Estate Centre (ADREC) to more effectively regulate the sector, improve governance standards, and maintain a balanced relationship between stakeholders. The new laws are designed to ensure the long-term sustainability of jointly owned properties, regulate all real estate-related professions, and bring clarity to contracts and operational procedures — aligning Abu Dhabi's regulatory model with global best practices. Abu Dhabi real estate laws Key highlights of the real estate update, include: Unified definition of real estate activities to cover sale, purchase, registration, evaluation, management, and operations — ensuring all sector-related professions are regulated Developers can terminate off-plan sale contracts without court proceedings if buyers default, subject to ADREC approval, allowing for faster and more flexible dispute resolution Owners' Committees will replace Owners' Associations, with advisory and oversight duties only; professional management firms will oversee day-to-day operations of jointly owned properties New framework for common areas and shared facilities to ensure long-term asset sustainability in real estate projects. Violations and administrative fines will be governed by a schedule approved by the Abu Dhabi Executive Council, reinforcing market accountability These changes are expected to enhance investor confidence, reduce legal disputes, and improve the efficiency and appeal of Abu Dhabi's real estate market. By clarifying developer rights and introducing stricter professional standards, the emirate is actively future-proofing its regulatory ecosystem.
Zawya
29-05-2025
- Business
- Zawya
Bayut achieves 100% compliance with Abu Dhabi Real Estate Centre Regulations
Abu Dhabi, United Arab Emirates – Bayut, the UAE's leading PropTech platform and a regional pioneer in artificial intelligence and machine learning applications for real estate, has announced it has achieved 100% compliance with the regulatory requirements issued by the Abu Dhabi Real Estate Centre (ADREC). This milestone highlights Bayut's continued leadership in shaping a more transparent, credible, and technologically advanced real estate ecosystem in Abu Dhabi. The announcement aligns with the launch of 'Madmoun', the GCC's first government-led Multiple Listing Service (MLS), introduced by ADREC to enhance transactional reliability and elevate listing verification standards. Through Madmoun, only valid properties—listed by a maximum of three licensed brokers—will be allowed on the market, marking a landmark step in regulating the emirate's property landscape. The team at ADREC has also welcomed Bayut's 100% compliance milestone with great enthusiasm, viewing it as a key signal of market readiness to adopt technology-driven regulatory frameworks. Bayut has been at the forefront of integrating cutting-edge AI and machine learning models to eliminate listing inaccuracies and promote trust. Tools like TruBroker™ have become industry benchmarks for property authentication, giving users confidence in the availability and accuracy of listings. These AI-driven tools are further supported by human review systems, ensuring that every listing meets Bayut's market-leading quality and compliance criteria. Commenting on the announcement, Haider Ali Khan, CEO of Bayut and CEO of Dubizzle Group in MENA, said: 'Achieving full compliance with ADREC's regulations is not just a regulatory milestone—it is a testament to our tech-first mindset and relentless drive to raise the bar for PropTech standards in the region. At Bayut, we are harnessing the power of AI, data science and automation not just to meet industry requirements, but to shape what the future of real estate should look like: smart, safe, and transparent. We commend ADREC's visionary Madmoun initiative, which aligns perfectly with our mission to deliver credibility and innovation at scale.' This achievement builds on the strategic partnership signed between Bayut and ADREC in 2024, focused on fostering deeper public-private collaboration to enhance data accuracy and elevate digital infrastructure within Abu Dhabi's real estate sector. As the PropTech landscape evolves, Bayut remains committed to being the regional benchmark for AI-led real estate platforms, championing innovation that serves the interests of investors, agencies, developers and end-users alike. With a robust team of engineers, data scientists and compliance experts, Bayut continues to drive the transformation of real estate through technology that leads, not follows.
Arabian Business
24-04-2025
- Business
- Arabian Business
Abu Dhabi real estate transactions jump to $6.9bn in Q1; Saadiyat Island stands out as lead area
Abu Dhabi real estate transaction value grew by 34.5 per cent to AED25.3bn ($6.9bn) across 6,896 deals in the first quarter of 2025 in the emirate, compared to AED18.82bn ($5.1bn) from 5,773 transactions in the same period of 2024, according to the Abu Dhabi Real Estate Centre. Buy and sell transactions totalled AED15.51bn ($4.2bn) through 3,819 transactions, reflecting a 26.7 per cent increase in value and an 11 per cent rise in volume compared to the first quarter of 2024. Mortgage transactions also recorded strong growth, reaching AED9.8bn ($2.7bn) through 3,077 transactions — a 49 per cent year-on-year increase. Abu Dhabi real estate Saadiyat Island was the leading area for real estate transactions, recording deals amounting to AED5.6bn ($1.5bn). It was followed by Yas Island, with AED3.6bn ($980m), and Mohammed Bin Zayed City, with AED2.1bn ($572m). Al Reem Island and Al Hudayriyat Island recorded over AED1bn ($272m) in transactions. The report highlighted continued activity in Foreign Direct Investment (FDI), with 384 transactions valued at AED1.582bn ($431m) concluded by investors from 68 nationalities — up from 58 nationalities during the same period last year. This demonstrates growing confidence in Abu Dhabi's real estate market, driven by regulatory policies and government initiatives that enhance its local and global appeal. Rashed Al Omaira, Acting Director-General of ADREC, said: 'ADREC continues to advance a more efficient, competitive, and sustainable real estate ecosystem, driven by digital transformation, reliable data, and continuous collaboration with strategic partners. 'These results highlight the strength of Abu Dhabi's property market and its enduring attractiveness as a regional and international hub for real estate investment. 'The notable growth in transaction value and volume, alongside the rise in foreign investment, underscores the effectiveness of our regulatory frameworks and reinforces investor confidence in the market. 'We will continue to enhance our legislative and digital tools and promote transparency to establish a more flexible and sustainable real estate environment aligned with Abu Dhabi's long-term vision.'
Zawya
24-04-2025
- Business
- Zawya
ADREC logs $6.89bln property transactions in Q1-25
The Abu Dhabi Real Estate Centre (ADREC), an affiliate of the Department of Municipalities and Transport, reported 34.50% year-on-year (YoY) higher property transactions at AED 25.30 billion in the first quarter (Q1) of 2025. The transactions were implemented over 6,896 deals, compared to AED 18.82 billion across 5,773 transactions in Q1-24, according to a press release. Buy and sell transactions jumped to AED 15.51 billion through 3,819 transactions in the first three months (3M) of 2025. Mortgage transactions hiked by 49% to AED 9.80 billion through 3,077 transactions. The report highlighted continued activity in foreign direct investment (FDI), with 384 transactions valued at AED 1.58 billion concluded by investors from 68 nationalities. Rashed Al Omaira, Acting Director General of ADREC, said: "ADREC continues to advance a more efficient, competitive, and sustainable real estate ecosystem, driven by digital transformation, reliable data, and continuous collaboration with strategic partners.' 'The notable growth in transaction value and volume, alongside the rise in foreign investment, underscores the effectiveness of our regulatory frameworks and reinforces investor confidence in the market,' Al Omaira stated. He added: "We will continue to enhance our legislative and digital tools and promote transparency to establish a more flexible and sustainable real estate environment aligned with Abu Dhabi's long-term vision."
Zawya
24-04-2025
- Business
- Zawya
ADREC records AED 25.3bln inreal estate transactions, marking a 34.5% growth
Abu Dhabi: The Abu Dhabi Real Estate Centre, an affiliate of the Department of Municipalities and Transport – Abu Dhabi, has announced a significant increase in property transactions across the Emirate during the first quarter of 2025. The Centre reported the total transaction value grew by 34.5% to AED 25.3 billion across 6,896 deals, a 34.5% increase compared to AED 18.82 billion from 5,773 transactions in the same period of 2024. Buy and Sell transactions surged to AED 15.51 billion through 3,819 transactions, reflecting a 26.7% increase in value and an 11% increase in volume compared to the first quarter of 2024. Mortgage transactions also recorded strong growth, reaching AED 9.8 billion through 3,077 transactions — a 49% year-on-year increase. Saadiyat Island was the leading area for real estate transactions, recording deals amounting to AED 5.6 billion. It was followed by Yas Island, with AED 3.6 billion, and Mohammed Bin Zayed City, with AED 2.1 billion. Al Reem Island and Al Hudayriat Island recorded over AED 1 billion in transactions. The report highlighted continued activity in Foreign Direct Investment (FDI), with 384 transactions valued at AED 1.582 billion concluded by investors from 68 nationalities — up from 58 nationalities during the same period last year. This demonstrates growing confidence in Abu Dhabi's real estate market, driven by regulatory policies and government initiatives that enhance its local and global appeal. Engineer Rashed Al Omaira, Acting Director General of ADREC, said: "ADREC continues to advance a more efficient, competitive, and sustainable real estate ecosystem, driven by digital transformation, reliable data, and continuous collaboration with strategic partners. These results highlight the strength of Abu Dhabi's property market and its enduring attractiveness as a regional and international hub for real estate investment. The notable growth in transaction value and volume, alongside the rise in foreign investment, underscores the effectiveness of our regulatory frameworks and reinforces investor confidence in the market." He added: "We will continue to enhance our legislative and digital tools and promote transparency to establish a more flexible and sustainable real estate environment aligned with Abu Dhabi's long-term vision." About The Abu Dhabi Real Estate Centre (ADREC) The Abu Dhabi Real Estate Centre (ADREC), launched by the Department of Municipalities and Transport in November 2023, aims to enhance Abu Dhabi's position as a global real estate hub and increase the sector's contribution to the non-oil economy. ADREC leads a significant transformation in Abu Dhabi's real estate sector, centred around four key pillars: Real Estate Strategy, Real Estate Promotion, Real Estate Regulation, and Real Estate Transactions Management. ADREC's focus is on advancing the sector's ecosystem while giving priority to the well-being of tenants, homeowners, developers, and investors. This involves streamlining processes and enhance regulatory frameworks, while utilising advanced technologies to provide sustainable and seamless services. Collaborating closely with all stakeholders, the centre aims to elevate development standards and overall liveability in Abu Dhabi. Moreover, ADREC focuses on innovation, exploring groundbreaking technologies. This comprehensive approach highlights ADREC's commitment to transparency, innovation, and collaboration, positioning Abu Dhabi as an attractive global destination. For media inquiries, please contact: Amer Rashed Albedwawi Email:
