Only 2461 residential units completed in Q1 2013 in Abu Dhabi

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The Statistics Centre – Abu Dhabi has issued its latest statistics on the buildings completed across the three regions of the Emirate of Abu Dhabi (Abu Dhabi, Al Ain and Al Gharbia region) during the first quarter of 2013.

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The report analyses data on the buildings completed in the first quarter of 2013 by region, type of usage and cost of construction, based on the administrative records of Abu Dhabi Municipalities.

According to SCAD’s report, a total of 1,979 buildings were completed in Abu Dhabi Emirate during the first quarter of 2013, of which 1,283 buildings (? 65.0 percent) were in Abu Dhabi region, 668 buildings (? 34.0 percent) were in Al Ain region and 28 buildings (? 1.0 percent) in Al Gharbia region.

A total of 1,842 new buildings were completed in the Emirate of Abu Dhabi during Q1 2013, marking an increase of 343 buildings compared with Q1 2012. Extensions to existing buildings (which include new buildings constructed on the same parcel of land or additions of new units to existing buildings) increased marginally from 136 extensions in Q1 2012 to 137 extensions in Q1 2013.

According to the report, a total of 2,461 residential units were completed in Abu Dhabi region during the first quarter of 2013, down 6.2 percent compared with Q1 2012.

The corresponding figure for Al Ain region was 702 units, marking an increase of 513 units compared with the first quarter of 2012. On the other hand only 13 residential units were completed in Al Gharbia region during Q1 2013, down from 83 units in Q1 2012.

SCAD’s data indicate that 91.4 percent or 1,809 of the buildings completed in Q1 2013 in Abu Dhabi Emirate were residential, with 55 commercial buildings completed over the same period.

A similar pattern is observed in Abu Dhabi region, where 1,203 or 81 percent of the buildings completed in the region during Q1 2013 were residential buildings, compared with 26 industrial buildings and 16 public facilities.

The corresponding figures for Al Ain region were 596 completions of residential buildings over Q1 2013, compared with 39 industrial buildings and 24 public facilities.

In Al Gharbia region, 10 residential buildings were completed during the Q1 2013, down from 46 residential buildings in Q1 2012.

During the first quarter of 2013, the estimated average construction cost in the Emirate of Abu Dhabi ranged between AED 3,518 and AED 4,104 per square metre, depending on the gross floor area, the interior finishes and the intended type of use.

Data shows a higher cost per unit area for buildings intended for residential use by landlords as compared with buildings constructed for investment purposes. Buildings with a gross floor area of 300-599 square metres had the highest construction cost (AED 4,104 per square metre), while buildings with a gross floor area exceeding 1200 square metres recorded the lowest construction cost (AED 3,518) per square metre.

SCAD said its new report on building completions reflects the Centre’s recognition of the huge importance of the real estate sector for the economy, whether reference is to completed projects or developments under construction.

SCAD said it is keen to highlight in its publications a full range of data on the real estate sector in the Emirate of Abu Dhabi in light of the robust growth the emirate continues to post and the promising outlook for this trend to continue in the coming years.

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