Abu Dhabi to build 28,000 homes and apartments by 2023
The interest of foreigners in the capital of the UAE will grow thanks to” Golden visas ” and the ability to buy real estate in full ownership, according to the consulting company CBRE.
According to CBRE, from 2020 to 2023, another 28,000 objects will appear on the Abu Dhabi market, in addition to the existing 258,000, writes Arabian Business. The government’s initiatives are designed to boost the Abu Dhabi real estate market this year, according to a consulting company.
Analysts are confident that interest in the capital of the UAE will grow due to changes in the law, according to which foreigners will be able to buy property in full ownership in 15 investment zones of the country. Another factor that will support the local market is the provision of “Golden visas” to investors.
“We see the potential for developers to create creative schemes to attract buyers and investors. In the office segment, for example, owners reduce service fees from tenants, as well as provide free rental periods to maintain high occupancy,” says Simon Townsend, head of strategic consulting at CBRE.