Abu Dhabi- property investment market

Abu Dhabi, the capital and the second largest city in United Arab Emirates, has recently witnessed a series of rapid developments. The economy, which is mainly dependant on hydrocarbons for its economic wealth, has one of the highest GDP per capitas in the world. Abu Dhabi also has the largest share of oil reserves in the UAE; 95% of oil reserves and 92% of the gas. In order to diversify its economy, the UAE government has taken large steps to encourage oil revenue investments in manufacturing, tourism, agricultural and real estate industries to limit its dependence on the finite resource of oil.

Even the Abu Dhabi Securities Exchange ended its third quarter on a positive note, increasing by 18.7% over the three months to close at 3,124.22 points compared to 2,631.32 points the previous quarter and 2,390.01 points at the end of 2008.

The investment in the Abu Dhabi real estate market has been increasing due to changes in their rigid policy regarding the buying and selling of houses for sale making it more flexible and thus giving passage for new investors, thereby making the market more robust.

The Abu Dhabi government plans to work with its local counterparts to build stronger partnerships with the private sector, giving Abu Dhabi special priority for industrial development. The government estimates a doubling in the population of the city in coming decades as workers from all over the world head to the city lured by lucrative, tax-free salaries, and a comfortable lifestyle. So the city is experiencing great wealth generation with multicultural talent.

The positive outlook of the city thanks to the strong determination of the government has pushed Abu Dhabi’s market sky high. It is surely an ideal place for anyone who wants to invest his life for greater returns in the future. This is Abu Dhabi’s promise.