Abu Dhabi’s office, industrial realty sectors record growth

Savills Middle East has released its latest Abu Dhabi Commercial Property Market Report, outlining continued growth in both the office and industrial real estate sectors during 2Q24. Key factors include rising demand, new regulatory flexibilities, and increased development activity across the emirate.

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According to the report, the number of economic licences issued on the mainland rose by 161 in 2Q24, while active licences in non-financial free zones grew by 229. These increases coincide with regulatory changes introduced by the Abu Dhabi Department of Economic Development (ADDED), which now allows companies registered in other emirates and free zones to open branches in Abu Dhabi.

The report notes sustained demand for Grade A office space, leading to high occupancy levels across several developments. Intera-lala Tower, Daman House, and Baniyas Tower are operating at full occupancy, while occupancy within ADGM has reached 91%. The number of operational entities within ADGM rose to 6,431, including 3,311 financial services firms, a 0.31% increase versus H1 2023.