Abu Dhabi grants foreigners freehold titles

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AldarForeigners can now own property in Abu Dhabi on a freehold basis in designated investment zones, the emirate announced in mid-January, seeking to attract more investors to its real estate sector. Residential units in the zones will be registered under Abu Dhabi’s freehold law, with property ownership deeds issued to investors, a statement from the Abu Dhabi Municipality said.

Previously, foreign investors in Abu Dhabi property were generally limited to leasehold arrangements with 99-year leases. The brief statement did not give details of the freehold arrangement or explain exactly how it differed from other property rights in Abu Dhabi, or from freehold rights abroad.

Abu Dhabi has designated areas for property investment by foreigners. Some of the zones are being developed by majority state-owned Aldar Properties, the largest developer in the emirate.

“This marks the launch of a very important phase in the development of the real estate market in Abu Dhabi, a phase which presents us with new opportunities for growth and development offered by Abu Dhabi’s economy,” Abubaker Seddiq Al Khoori, chairman of Aldar, said in the statement.

“We believe in Aldar Properties that attracting long-term foreign investors will bring great benefits to Abu Dhabi in particular and to the UAE in general so that we can continue our path of construction and development.”

In November 2013, Abu Dhabi scrapped a 5 per cent cap on annual rent increases.

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Reading Time: 1 minute

Foreigners can now own property in Abu Dhabi on a freehold basis in designated investment zones, the emirate announced in mid-January, seeking to attract more investors to its real estate sector. Residential units in the zones will be registered under Abu Dhabi’s freehold law, with property ownership deeds issued to investors, a statement from the Abu Dhabi Municipality said.

Reading Time: 1 minute

AldarForeigners can now own property in Abu Dhabi on a freehold basis in designated investment zones, the emirate announced in mid-January, seeking to attract more investors to its real estate sector. Residential units in the zones will be registered under Abu Dhabi’s freehold law, with property ownership deeds issued to investors, a statement from the Abu Dhabi Municipality said.

Previously, foreign investors in Abu Dhabi property were generally limited to leasehold arrangements with 99-year leases. The brief statement did not give details of the freehold arrangement or explain exactly how it differed from other property rights in Abu Dhabi, or from freehold rights abroad.

Abu Dhabi has designated areas for property investment by foreigners. Some of the zones are being developed by majority state-owned Aldar Properties, the largest developer in the emirate.

“This marks the launch of a very important phase in the development of the real estate market in Abu Dhabi, a phase which presents us with new opportunities for growth and development offered by Abu Dhabi’s economy,” Abubaker Seddiq Al Khoori, chairman of Aldar, said in the statement.

“We believe in Aldar Properties that attracting long-term foreign investors will bring great benefits to Abu Dhabi in particular and to the UAE in general so that we can continue our path of construction and development.”

In November 2013, Abu Dhabi scrapped a 5 per cent cap on annual rent increases.

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