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Abu Dhabi - an ever-growing market

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By : Iwona szymanska    99 or more times read
Abu Dhabi, the wealthiest among the seven emirates, is witnessing a rapid growth in the construction and urban infrastructure sectors. Real estate is one of the fastest growing sectors with investments flowing in from all over the world.

Recently the UAE government has allowed freehold ownership of houses for sale and land in specified areas. In order to improve the economical standing of Abu Dhabi, and to direct the growth in real estate to best meet the demands of the growing population, the government mandated the Executive Affairs Authority to design and implement a significant urban planning initiative back in 2006.

In 2008, the Plan Abu Dhabi 2030; Urban Structure Framework Plan was issued. “Two areas have been identified as major development opportunities to augment the two main cores. The Grand Mosque District is home to Zayed Sports City, ADNEC, the exhibition centre development, the Al Bateen Airport redevelopment zone, and as its name indicates, the Grand Mosque. As Al Bateen Airport is moved out and the large amount of empty adjacent land is utilized, a smaller employment and residential node will be created, and is strategically positioned almost exactly equidistant between the two major cores. This smaller node is an ideal location for a metro transit station that accesses the Sports City and the Grand Mosque. Adjacent the Grand Mosque District, the south portion of Hudariyat Island has been designated for Emirati neighborhoods in contact with the water and in close proximity to both city cores.

Thus Abu Dhabi is utilizing its resources to the fullest to make itself the true real estate leader in the world. This huge development in Abu Dhabi real estate has made the economy of Abu Dhabi even stronger. Though it faces a steep challenge from the more developed countries, its sincere efforts has reaped fruit and we have already seen a large inflow of income from foreign investors.

So Abu Dhabi’s market is growing and promises even more positive growth in the near future.

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