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The Municipality of Abu Dhabi City, affiliated to the Department of Municipalities and Transport in Abu Dhabi, revealed the creation of 7 new investment areas for freehold ownership for non-nationals, since the beginning of the current year 2023, bringing the total number of investment areas to about 30 areas in the emirate, characterized by a variety of projects and units in terms of designs and prices, to match With all investors of different tastes and choices.
Shafiqa Al Balushi, Director of the Developers and Licensing Affairs Department at Abu Dhabi Municipality, affiliated to the Department of Municipalities and Transport, said that the new investment zones allow foreign ownership of real estate in them, and provide investment opportunities with a competitive advantage and high market flexibility, due to its vital location, infrastructure, and a safe and stable environment that stimulates those interested. To work, live and invest.
She added that these areas are concentrated in “Yas Island, Saadiyat Island, Al Reem, Al Shamkha District, Shakhbout City, Al Reef 2 and Al Jurf,” and other areas designated for foreign ownership of real estate in them.
She pointed out that Abu Dhabi is the ideal investment destination for various individuals and investors, stressing the municipality’s keenness to invest in resources and devise the necessary solutions to provide a sustainable, developed and integrated infrastructure that meets the needs of society in terms of facilities and services, and enhances the lifestyle and quality of life, and is keen to set standards and procedures and implement laws and legislation, As an extension of a series of wise decisions from the wise leadership, which enhance the economic growth wheel and contribute to increasing the movement of the real estate sector.
The Director of the Developers Affairs and Licensing Department confirmed that the real estate market in Abu Dhabi continued its ability to achieve positive results and high growth rates during the last period, as a result of applying a series of government policies and procedures that contributed to achieving these results, in addition to offering many investment options and increasing transparency in this regard. The vital sector, which contributed to enhancing investor confidence in the real estate market, and strengthening Abu Dhabi’s position as one of the most attractive global destinations for investment in the real estate sector.
Al-Balushi called on those wishing to invest in the real estate sector to take advantage of the smart applications developed by the Department of Municipalities and Transport, including the “Dari” application, which helps in knowing the details of all the real estate project, and the project’s escrow account, which contributes to controlling the real estate market and cordoning off imaginary sales.
She said that the “Dari” digital system launched by the department aims to integrate real estate services in the Emirate of Abu Dhabi into a unified platform, and provides users with the opportunity to obtain a flexible and smooth experience to manage their various real estate transactions, in a way that enhances the attractiveness of real estate investment, and the commitment to transparency in providing data to investors, in addition to To help any investor when buying real estate in any project, to see the name of the project, the percentage of completion and the latest updated pictures of the project, in order to achieve the principle of transparency, and for the investor to know his rights and to document the relationship between the municipality and the real estate professions, all of which are brokerage firms, main or sub developers, surveying companies and companies. appraisal, and others.
