Abu Dhabi: Imad Al-Din Khalil
Abu Dhabi, UAE: The Abu Dhabi City Municipality, part of the Department of Municipalities and Transport, has unveiled seven new freehold investment zones for non-citizens since the beginning of 2023. This brings the total number of freehold investment zones in the Emirate to approximately 30. These zones offer a diverse range of projects and units, varying in designs and prices to suit different investor preferences.
Shafiqa Al Blooshi, Director of the Developers and Licensing Department at Abu Dhabi City Municipality, stated that these new investment zones allow foreigners to own property, offering competitive investment opportunities with high market flexibility. The zones benefit from strategic locations, robust infrastructure, and a safe and stable environment, which encourages individuals to work, live, and invest.
The new zones are located in areas including Yas Island, Saadiyat Island, Al Reem Island, Al Shamkha, Shakhbout City, Al Reef 2, and Al Jurf, among other designated areas.
Al Blooshi emphasized that Abu Dhabi remains an ideal investment destination for individuals and investors. The municipality is committed to investing in resources and innovating solutions to provide a sustainable, advanced, and integrated infrastructure that meets community needs, enhances quality of life, and supports economic growth. This includes adhering to standards, procedures, and laws that continue a series of wise decisions from the leadership, which drive economic development and boost the real estate sector.
She highlighted that Abu Dhabi’s real estate market has continued to achieve positive results and high growth rates recently, due to the implementation of various government policies and procedures that have increased transparency and investor confidence. This has solidified Abu Dhabi’s status as one of the most attractive global real estate investment destinations.
Al Blooshi encouraged potential investors to take advantage of smart applications introduced by the Department of Municipalities and Transport, such as the “Dari” app. This platform provides comprehensive information about real estate projects, including project details, escrow accounts, and helps manage the real estate market while addressing issues of fraudulent sales.
The “Dari” digital platform aims to consolidate real estate services in Abu Dhabi into a single unified platform, offering users a seamless and flexible experience for managing their real estate transactions. It enhances investment attractiveness and transparency by providing detailed information about projects, including names, completion percentages, and updated images, ensuring transparency and protecting investor rights. The platform also facilitates interactions between the municipality and various real estate professionals, including brokerage firms, primary and secondary developers, surveyors, and appraisers.
