Abu Dhabi enacts new property ownership rules for foreigners
Abu Dhabi’s government enacted changes to the emirate's real estate law, to enable foreigners to own freehold property in designated investment zones for the first time, as part of plans to increase foreign direct investment and boost the economy. “The modernisation of the real estate law reflects the government vision to support and develop the business environment in Abu Dhabi, along with the development of investor services and procedures,” said Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, in a statement issued by the Abu Dhabi Executive Council.