Abu Dhabi, the high-rise capital of UAE and the second-largest economy in the GCC is turning to be a hot choice for property buyers.
Over the years, we have seen Abu Dhabi’s real estate sector grow as a key contributor to the capital’s economy. According to the Abu Dhabi Department of Economic Development, the property market has been an important asset to Abu Dhabi’s GDP and FDI, growing by 4.6% over the last five years. As a result of the proactive steps taken by the government, this has firmly positioned the emirate as a global investment hub. Opening up of the freehold market to foreign investment has exposed the real estate sector in Abu Dhabi to a whole new set of interested investors and buyers.
GDP for the UAE has seen strong growth over the last decade reaching USD399 billion in FY2014, of which non-oil GDP accounts for 66%. This represents a 58% growth in GDP over the last five years and diversification away from oil-related GDP.
Abu Dhabi has emerged as the cultural hub of the world with world-class facilities and an interesting cosmopolitan social and cultural mix of communities. The United Arab Emirates has a history of being a hotspot for tourists, and its capital, Abu Dhabi is right in the middle of the action. With its world-class infrastructure, beautiful locations and progressive government reforms, this richest emirate of the UAE have positioned itself as one of the world’s most preferred destinations for both investment and retirement.
Abu Dhabi provides lifestyle, comfort, and luxury, perfect for someone looking to plant their roots. In Abu Dhabi, the world truly is at the tip of your fingers with its desert safaris, racing tracks, world-class facilities and of course beach activities. Here are just a few reasons why you should start planning long-term and consider investing in Abu Dhabi
Reasons for Abu Dhabi’s real estate growth in 2020:
- In line with market demand, a range of affordable & competitively priced projects are being offered to give the investor value for money
- Developers offering a range of flexible payment plans to entice investors
- Introduction of a number of supportive Government policies and reforms including allowing foreign nationals to own freehold property in designated zones, plus the introduction of long-term residency permits and new business licenses
- Abu Dhabi’s rental market continues to be tenant-friendly with superior returns
- Infrastructure, development, legal transparency and healthy market conditions
2020 is going to be an important year to observe as Abu Dhabi’s real estate market matures further. With the good mix supply of both affordable and luxury properties available and prices becoming more competitive in the sales segment, we are likely to see more first-time buyers, as well as seasoned global investors taking the step to invest, buy and live in the capital city.