Metropolitan Capital Real Estate Registers Record 2024 Year With Sales Transactions Surging 60% To AED 4.8 Billion

(MENAFN- Mid-East Info) Abu Dhabi market expected to grow 40% this year driven by rise in new project launches.

Abu Dhabi, February, 2025: Metropolitan Capital Real estate (MCRE), a leading full-service real estate agency in Abu Dhabi and part of the Metropolitan Group, has announced exceptional results for 2024 in the Abu Dhabi real estate market.

The company closed over 1,200 deals, representing a remarkable 48% increase compared to 2023. The total value of these deals reached AED 4.8 billion, a 60% increase from AED 3 billion in 2023. The average transaction value also rose 21%, reaching AED 4 million.

MCRE's outstanding performance reflects the record growth seen in the Abu Dhabi real estate market last year. In the freehold areas, the Capital witnessed over 14,620 transactions totalling AED 46.63 billion, with off-plan deals accounting for AED 32.56 billion and secondary market transactions reaching AED 14 billion.

“2024 was a year of exceptional growth for both MCRE and the Abu Dhabi real estate market,” said Evgeny Ratskevich, CEO of Metropolitan Capital Real Estate.“Our 60% revenue surge was driven by our deep understanding of our customer requirements and solidifies our position as a market leader. We are well-positioned to capitalize on the continued momentum in 2025, leveraging our expertise and client relationships to capitalize on the host of new launches we expect to see.”

Last year, MCRE saw a remarkable 119% increase in secondary market sales, reaching AED 1.3 billion with nearly 40% of the transactions taking place in Saadiyat Island while off-plan sales registered AED 3.6 billion, accounting for 10% of the market share in freehold areas.

Popular investment destinations last year included Reem Island, Ramhan Island and Al Jurf.

MCRE's top deals last year included a villa and an apartment in Al Jurf and Reem Island, each valued at AED 45 million.

Russian investors, along with those from the CIS countries, continue to be among the most prolific investors, alongside UK and UAE nationals as well as an increasing number of investors from the US. The company also continues to see a growing trend of investors relocating their families and business to the UAE.

Looking ahead to this year, MCRE anticipates a 30-40% growth in the Abu Dhabi real estate market. This positive outlook is underpinned by several key factors including new project launches, increased investor interest and an increasing population shifting from Dubai to Abu Dhabi. Additionally, Abu Dhabi's enhanced global recognition as a prime investment destination, driven by its strong lifestyle offerings, safety and world-class infrastructure, will also drive this growth. The new airport is also expected to further boost tourism and attract international investors, with tourist numbers increasing year-on-year.

The market is expected to see several new launches from established Abu Dhabi and Dubai-based developers in addition to international players, as well as a growing participation from family offices, funds and other investment vehicles.

Reem Island and Saadiyat Island, in particular, are expected to see a significant share of the new project announcements. The broader market is poised to witness record-high off-plan inventory, with an estimated AED 130 billion worth of projects anticipated in 2025, compared to AED 80 billion in 2024.

To support this anticipated growth, MCRE has strategically expanded its operational capabilities. Last year, the company relocated its headquarters to a spacious 2,500 sq. ft. sales office, designed to accommodate its growing team and provide enhanced client interaction spaces. The company also opened its luxury office on Saadiyat Island – Metropolitan Capital Elite, catering exclusively to HNWIs and the luxury market in the Capital.

About Metropolitan Capital Real Estate:

Metropolitan Capital Real Estate (MCRE) is a full-service leading property company based in Abu Dhabi.

MCRE provides end-to-end services and customised solutions under one roof to the capital's residents and nationals. The company is accredited by the largest developers in Abu Dhabi and is the official broker of Abu Dhabi development group ALDAR.

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