Meanwhile, Chinese buyer inquiries for UAE properties rose by 28 per cent in the first quarter from a year ago, according to data from property technology firm Juwai IQI.
Foreign investors bought more than US$2 billion of real estate in Abu Dhabi in 2024 – a 125 per cent increase from a year earlier, the data showed. China was among the top sources of capital, along with the US, UK, France, Kazakhstan and Russia, the firm said.
Gaw Capital’s residential investment in Abu Dhabi was for a building at Mamsha Gardens, a low-density project with seven residential buildings on Saadiyat Island.
It acquired the building from Aldar, the largest developer in Abu Dhabi, which reported that 87 per cent of its sales in the first quarter came from international buyers, said Kashif Ansari, Juwai IQI co-founder and group CEO.