Abu Dhabi issued its latest statistics on the buildings completed in the three regions of the Emirate of Abu Dhabi (Abu Dhabi, Al Ain and Al Gharbia region) during the fourth quarter of 2012. The report analyzes data on the buildings completed in the fourth quarter of 2012 by region, type of usage and cost of construction, based on the administrative records of Abu Dhabi Municipalities.
According to the report, a total of 3,477 buildings (including new buildings and extensions to existing buildings) were completed in the Emirate of Abu Dhabi in the fourth quarter of 2012, of which 3,325 were new buildings and 3,282 were residential buildings.
The fourth quarter of 2011 also saw 4,017 residential units completed in Abu Dhabi Emirate. The report estimates average construction cost per square metre in the fourth quarter of 2012 at Dhs3,663.
Distribution of Building Completions by Region According to SCAD’s report, a total of 3,477 buildings were completed in Abu Dhabi Emirate during the fourth quarter of 2012, of which 80.0% were in Abu Dhabi region, 19.0% in Al Ain and 1.0% in Al Gharbia region.
Distribution of Building Completions by Type and Region A total of 3,325 buildings were completed in the Emirate of Abu Dhabi during the fourth quarter of 2012, marking an increase of 1077 buildings compared with Q3 2012.
Distribution of Residential Unit Completions by Region According to SCAD’s report, a total of 3287 residential units were completed in Abu Dhabi region during the fourth quarter of 2012. This represents a decline of 8.1% compared with Q3 2012.
The corresponding figure for Al Ain region was 689 units, marking a decrease of 69 units compared with the third quarter of 2012. On the other hand 41 residential units were completed in Al Gharbia region during Q4 2012.
istribution of Building Completions by Type of Use and Region SCAD’s data indicate that 94% or 3,282 of the buildings completed in Q4 2012 in Abu Dhabi Emirate were residential. A similar pattern is observed in Abu Dhabi region, where 2663 of the buildings completed in in Q4 2012 were residential buildings, compared with 48 industrial buildings and 41 public facilities.
Compared with Q3 2012, the fourth quarter saw residential building completions in Al Ain region decline by 9.2%, but no significant change was observed in the completions of non-residential buildings over the same comparison period. In Al Gharbia region, 34 residential buildings were completed during the Q4 2012, down from 230 residential buildings in Q3 2012.
Average Estimated Cost of Construction by Building Area During the fourth quarter of 2012, the estimated average construction cost in the Emirate of Abu Dhabi ranged between Dhs2,937 and Dhs4,253 per square metre, depending on the gross floor area, the interior finishes and the intended type of use.
Data shows high 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 between 900-1200 square metres had the highest construction cost of Dhs4,253 per square metre, while buildings with a gross floor area exceeding 1200 square metres had the lowest construction cost of Dhs2,937 per square metre.
Significance of the report SCAD’s 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 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 impressive growth the emirate continues to post and the promising outlook for robust growth in the coming years.
