WAM Abu Dhabi, 29th April 2012 (WAM) -- Statistics Centre - Abu Dhabi today released 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 2011.
The report analyzes data on the buildings completed in the fourth quarter of 2011 by region, type of usage and cost of construction, based on the administrative records of Abu Dhabi Municipalities.
According to the report, the number of buildings completed (new and additions) in the Emirate of Abu Dhabi in the fourth quarter of 2011 was 1,108 buildings of which 1,019 were new buildings, 646 were residential buildings. The fourth quarter of 2011 also saw 2,908 residential units completed in Abu Dhabi Emirate. The report estimates average construction cost per square metre in the Fourth quarter of 2011 of the Emirate of Abu Dhabi at 3,615 AED.
Distribution of Building Completions by Region A total of 1,108 buildings were completed in Abu Dhabi Emirate during the fourth quarter of 2011, of which 67.0 per cent were in Abu Dhabi region, 30.0 per cent in Al Ain and 3.0 per cent in Al Gharbia region.
The number of buildings completed during Q4 in Al Ain region increased 12.3 per cent to 338.
Distribution of Building Completions by Type and Region A total of 1,019 new buildings were completed in the Emirate of Abu Dhabi during the fourth quarter of 2011. Meanwhile 90 additions were completed during the same period, including extensions on the same on the same parcel of land and additions of new units to existing buildings. Accordingly, the total number of buildings completed during Q4 2011 was 1108.
Distribution of Residential Unit Completions by Region A total of 2,256 residential units were completed in Abu Dhabi region during the fourth quarter of 2011. This represents a decline of 31.7 per cent compared to the third quarter.
The corresponding figure for Al Ain region was 581 units, marking an increase of 64 units compared with the third quarter. By contrast, the number of residential units completed in Al Gharbia region during Q4 2011 retreated 41.3 per cent to 71 units.
Distribution of Building Completions by Type of Use and Region SCAD's data indicate that over half of the buildings completed in the fourth quarter (58.3 per cent or 646 building) in Abu Dhabi Emirate were residential, compared with 281 residential/commercial buildings i.e. 25.4 per cent of the total buildings completed during the period under review.
The report also reveals that most of the buildings completed in Abu Dhabi region in Q4 2011 were residential buildings, reaching 369 buildings, down from 541 buildings in Q3 2011. On the other hand, the number of mixed use "residential/commercial" buildings completed was 247, representing a decline of 115 units compared to the third quarter. Completions of buildings classified as: commercial, industrial and public facilities also decreased in the fourth quarter compared to the third quarter.
Compared with Q3 2011, the fourth quarter saw residential building completions in Al Ain region completed rise 12.3 percent to 268 buildings. Likewise, a slightly increase was recorded in the completions of buildings classified as "residential/commercial", "industrial" and "public facilities" in Al Ain region over the same comparison period.
In Al Gharbia region, the number of residential buildings completed declined to 9 units during the Q4 compared with Q4 2011, while the number of industrial buildings completed grew to 15 buildings in Q4 2011.
Average Estimated Cost of Construction by Building Area During the third and fourth quarters, the estimated average construction cost per square metre in the Emirate of Abu Dhabi ranged between AED 3,265 and AED 4,100 per metre, depending on the total built area, the interior finishes and type of use.
Data shows that buildings, which were used as residence by the landlord, had the highest construction cost compared to buildings used for investment purposes. Buildings with a total construction area s between 300-599 square metres had the highest construction cost of AED 4,100 per metre and were mostly used as a residence by the landlord. Buildings with a total construction area of (900- 1200) square metres had the lowest construction cost of AED 3,265 per metre.
Significance of the report SCAD's report on the building completions coincides with the Centre's participation in the Cityscape Exhibition, reflecting the Centre's recognition of the huge importance of the real estate sector for as set out in the Abu Dhabi Economic Vision 2030 whether reference is to completed projects or developments under construction.
SCAD is keen to highlight in its publications in 2011 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.