Metropolitan Capital Real Estate (MCRE), a Metropolitan Group company, announced today that it registered its most successful Q3 in company history. MCRE registered over AED 500M in sales for Q3, a 200% increase from 2021 with record months in August and September. The company registered over AED 150M in sales in August, a growth of 180% from last year. This was followed up by a record month for September when the company broke its monthly sales record registering over AED 250 million in sales, a 200% growth for the month year-on-year. 

Evgeny Ratskevich, Metropolitan Capital Real Estate CEO: “The Abu Dhabi real estate market has seen phenomenal growth and has become a really attractive opportunity for investors and residents this past year. The summer is usually pretty quiet however this year the Abu Dhabi market saw significant activity with UAE nationals and residents accounting for most of our transactions in Q3. Off-plan transactions have always been the most popular however the secondary market has recently taken off which prompted us to expand the size of our dedicated secondary market team to accommodate demand. The most popular locations for sales still remain Yas Island, Al Saadiyat Island, Al Reem Island, Khalifa City, and Al Raha Beach which accounts for 80% of our sales.”

The Abu Dhabi real estate market has been historically driven by residents with up to 80% of real estate purchases made by Emiratis or residents. However, Abu Dhabi’s growing attractiveness as a safe city for families and a competitive city for business and investment has helped its appeal to international buyers.  

In June, MCRE saw a significant increase in business from international clients with 70% of its transactions coming from international customers.  Investors showing the most interest in Abu Dhabi real estate were business owners and senior executives from the CIS region and western European countries such as Germany, France, Italy, Austria and Switzerland.  

During the first four months of the year, MCRE saw a 50% increase in international buyers vs. 2021 with nearly 90% of the buyers choosing to relocate to the city with their families.

The Metropolitan Group in the UAE includes two full-service real estate agencies: Metropolitan Premium Properties (Dubai) and Metropolitan Capital Real Estate LLC (Abu Dhabi). The group also has Metropolitan Consulting FZE, a supporting company that provides personal and business legal services in the UAE.