The Abu Dhabi government's move to change a real estate rule to allow foreigners to own freehold property in designated zones is a step in the right direction to put the capital's property market on the global map and a boon for private developers and investors alike, market analysts and property developers say.
Foreign investors in Abu Dhabi’s real estate market were previously granted leasehold arrangements with a maximum 99-year time period, but the government on Wednesday amended the rule through a royal decree, a move aimed at supporting the capital’s real estate market, boosting foreign direct investment and strengthening its economy.
Until the changes, freehold ownership of property was only allowed for UAE and GCC nationals. Residential units in special designated investments zones, such as a designated area close to the international airport, will now be registered under Abu Dhabi’s freehold law, with property ownership deeds issued to buyers of property in the emirate.
“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,” Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, said.
The legal changes will also help to level the playing field between Abu Dhabi and Dubai, where foreigners are already allowed to buy freehold property in investment zones. The changes were enacted after a government study to examine the needs of the real estate sector, including meetings with investors, developers and others, according to the Abu Dhabi Executive Council.
Mounir Haidar, managing director of Jubail Island Investment Company
"The announcement by the Abu Dhabi government to amend the real estate law is a significant step towards achieving the economic diversification and sustainable development objectives outlined by the UAE Vision 2021 and Abu Dhabi Economic Vision 2030. The change is in keeping with the wide-ranging initiatives of the Tomorrow 2021 reforms – boosting the capital’s business environment and competitiveness.
"In addition to enhancing Abu Dhabi’s strong investment appeal, the amended law will play a key role in stimulating the real estate market, boosting business opportunities, driving economic growth and will attract foreign direct investment.”
Farhad Azizi, chief executive of Dubai-based Azizi Developments
"When things [rules] are in black and white it makes it so much more attractive for us, or for that matter, any other private developer. We are very happy with the way Dubai did it and Abu Dhabi is doing it as well. Dubai has been ahead in terms of some of the regulations and Abu Dhabi is catching up and they are doing a great job.
"Now you go anywhere in the world, Dubai and Abu Dhabi are standing out as property markets, while previously it was only Dubai. Abu Dhabi is certainly picking up and now everybody knows Abu Dhabi and they want to go there."
Sameh Muhtadi, chief executive of Bloom Holding
“It’s a very encouraging move and will make a tremendous difference in terms of widening market demand. Historically, property investors in Abu Dhabi have mainly been local [Emiratis], whereas the new law will allow for greater participation of foreign investors – whether from overseas, or living in the UAE – something that is badly needed."
“The logical next step will be to see some additions to the existing portfolio of investments zones, which are currently quite saturated.”
Sameer Barakat, executive director estate management at Provis, a fully owned subsidiary of Aldar Properties
“In a few words, it’s a boost to the economy and encouragement for the investors, especially the foreign investors to look at Abu Dhabi as potential investment zone for them. The investment zones are basically centralised in the most prominent development, such as Yas and Saadiyat Islands and known to everyone.
“On the last day of Cityscape we see more people coming to look for their future houses or the plots that they want to build their homes on. It is an encouraging thing. If you come to Cityscape today, you will see the difference, although normally it should slow down [being the third day of the event]."
Abu Dhabi is known for its leisure and entertainment facilities globally and “the legislation is putting Abu Dhabi [further] on the global map and it will encourage the investor to look at the market seriously to invest. The investors are both sub-developers and individual [property buyers]. Sub-developers will now look into buying plots and redeveloping them into new smaller developments. All-in-all, it is going to be a boost for the economy and real estate market of the capital”.
Edward Carnegy, director, head of Abu Dhabi office, Savills Middle East
"It is actually phenomenal [news]. It's a game-changer. It will encourage corporates to come here and build their headquarters. The cascade from this should be phenomenal.
"You have to remember that Abu Dhabi's objective is to diversify its investments and stimulate its economy and this is a massive step in the right direction."
"The aim of Executive Council is to make Abu Dhabi more investable and by doing this [enacting freehold regulation] they did it as foreign investors can own the land. Also, it levels the playing field with Dubai as Dubai has had freehold for a while".
Lynnette Abad, director of research and data at Property Finder
"This is very promising news for Abu Dhabi as this now puts them on par, real estate investment-wise, with Dubai. Of course, the devil is in the details. Therefore, we will need to wait for further information regarding the freehold structure.
“With that said, this is the basis of a maturing market in Abu Dhabi and will create a proper title deed structure for a property, which in turn should bring transparency to the market when it comes to transaction data. This will also entice further investment, especially foreign investment to Abu Dhabi."
Kamraan Khan, residential associate at Cavendish Maxwell Abu Dhabi
“We expect these changes [in the property law] to positively impact sentiment as they provide expats and end users greater security of tenure. This is proof of a continued increase in market maturity, and a willingness of the legislature to embrace positive regulatory change.
“How this relates to existing developments remains to be seen, although it may well tempt cautious buyers with a lower risk appetite back into the market. However, the timing of this announcement could not be better, considering the current appetite for land plots within investment zones.”
Unresolved crisis
Russia and Ukraine have been locked in a bitter conflict since 2014, when Ukraine’s Kremlin-friendly president was ousted, Moscow annexed Crimea and then backed a separatist insurgency in the east.
Fighting between the Russia-backed rebels and Ukrainian forces has killed more than 14,000 people. In 2015, France and Germany helped broker a peace deal, known as the Minsk agreements, that ended large-scale hostilities but failed to bring a political settlement of the conflict.
The Kremlin has repeatedly accused Kiev of sabotaging the deal, and Ukrainian officials in recent weeks said that implementing it in full would hurt Ukraine.
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NEW%20UTILITY%20POLICY%3A%20WHAT%20DOES%20IT%20REGULATE%3F
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ESSENTIALS
The flights
Emirates flies direct from Dubai to Rio de Janeiro from Dh7,000 return including taxes. Avianca fliles from Rio to Cusco via Lima from $399 (Dhxx) return including taxes.
The trip
From US$1,830 per deluxe cabin, twin share, for the one-night Spirit of the Water itinerary and US$4,630 per deluxe cabin for the Peruvian Highlands itinerary, inclusive of meals, and beverages. Surcharges apply for some excursions.
The specs: 2019 Mercedes-Benz GLE
Price, base / as tested Dh274,000 (estimate)
Engine 3.0-litre inline six-cylinder
Gearbox Nine-speed automatic
Power 245hp @ 4,200rpm
Torque 500Nm @ 1,600rpm
Fuel economy, combined 6.4L / 100km
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
LIVERPOOL SQUAD
Alisson Becker, Virgil van Dijk, Georginio Wijnaldum, James Milner, Naby Keita, Roberto Firmino, Sadio Mane, Mohamed Salah, Joe Gomez, Adrian, Jordan Henderson, Alex Oxlade-Chamberlain, Adam Lallana, Andy Lonergan, Xherdan Shaqiri, Andy Robertson, Divock Origi, Curtis Jones, Trent Alexander-Arnold, Neco Williams
Who has been sanctioned?
Daniella Weiss and Nachala
Described as 'the grandmother of the settler movement', she has encouraged the expansion of settlements for decades. The 79 year old leads radical settler movement Nachala, whose aim is for Israel to annex Gaza and the occupied West Bank, where it helps settlers built outposts.
Harel Libi & Libi Construction and Infrastructure
Libi has been involved in threatening and perpetuating acts of aggression and violence against Palestinians. His firm has provided logistical and financial support for the establishment of illegal outposts.
Zohar Sabah
Runs a settler outpost named Zohar’s Farm and has previously faced charges of violence against Palestinians. He was indicted by Israel’s State Attorney’s Office in September for allegedly participating in a violent attack against Palestinians and activists in the West Bank village of Muarrajat.
Coco’s Farm and Neria’s Farm
These are illegal outposts in the West Bank, which are at the vanguard of the settler movement. According to the UK, they are associated with people who have been involved in enabling, inciting, promoting or providing support for activities that amount to “serious abuse”.
if you go
The flights
Air Astana flies direct from Dubai to Almaty from Dh2,440 per person return, and to Astana (via Almaty) from Dh2,930 return, both including taxes.
The hotels
Rooms at the Ritz-Carlton Almaty cost from Dh1,944 per night including taxes; and in Astana the new Ritz-Carlton Astana (www.marriott) costs from Dh1,325; alternatively, the new St Regis Astana costs from Dh1,458 per night including taxes.
When to visit
March-May and September-November
Visas
Citizens of many countries, including the UAE do not need a visa to enter Kazakhstan for up to 30 days. Contact the nearest Kazakhstan embassy or consulate.
HAJJAN
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Karwaan
Producer: Ronnie Screwvala
Director: Akarsh Khurana
Starring: Irrfan Khan, Dulquer Salmaan, Mithila Palkar
Rating: 4/5
The specs
Engine: 2.0-litre 4-cylturbo
Transmission: seven-speed DSG automatic
Power: 242bhp
Torque: 370Nm
Price: Dh136,814
India team for Sri Lanka series
Test squad: Rohit Sharma (captain), Priyank Panchal, Mayank Agarwal, Virat Kohli, Shreyas Iyer, Hanuma Vihari, Shubhman Gill, Rishabh Pant (wk), KS Bharath (wk), Ravindra Jadeja, Jayant Yadav, Ravichandran Ashwin, Kuldeep Yadav, Sourabh Kumar, Mohammed Siraj, Umesh Yadav, Mohammed Shami, Jasprit Bumrah.
T20 squad: Rohit Sharma (captain), Ruturaj Gaikwad, Shreyas Iyer, Surya Kumar Yadav, Sanju Samson, Ishan Kishan (wk), Venkatesh Iyer, Deepak Chahar, Deepak Hooda, Ravindra Jadeja, Yuzvendra Chahal, Ravi Bishnoi, Kuldeep Yadav, Mohammed Siraj, Bhuvneshwar Kumar, Harshal Patel, Jasprit Bumrah, Avesh Khan
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
THE LIGHT
Director: Tom Tykwer
Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger
Rating: 3/5
Global state-owned investor ranking by size
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Diriyah%20project%20at%20a%20glance
%3Cp%3E-%20Diriyah%E2%80%99s%201.9km%20King%20Salman%20Boulevard%2C%20a%20Parisian%20Champs-Elysees-inspired%20avenue%2C%20is%20scheduled%20for%20completion%20in%202028%0D%3Cbr%3E-%20The%20Royal%20Diriyah%20Opera%20House%20is%20expected%20to%20be%20completed%20in%20four%20years%0D%3Cbr%3E-%20Diriyah%E2%80%99s%20first%20of%2042%20hotels%2C%20the%20Bab%20Samhan%20hotel%2C%20will%20open%20in%20the%20first%20quarter%20of%202024%0D%3Cbr%3E-%20On%20completion%20in%202030%2C%20the%20Diriyah%20project%20is%20forecast%20to%20accommodate%20more%20than%20100%2C000%20people%0D%3Cbr%3E-%20The%20%2463.2%20billion%20Diriyah%20project%20will%20contribute%20%247.2%20billion%20to%20the%20kingdom%E2%80%99s%20GDP%0D%3Cbr%3E-%20It%20will%20create%20more%20than%20178%2C000%20jobs%20and%20aims%20to%20attract%20more%20than%2050%20million%20visits%20a%20year%0D%3Cbr%3E-%20About%202%2C000%20people%20work%20for%20the%20Diriyah%20Company%2C%20with%20more%20than%2086%20per%20cent%20being%20Saudi%20citizens%0D%3C%2Fp%3E%0A
Tuesday's fixtures
Kyrgyzstan v Qatar, 5.45pm
UK-EU trade at a glance
EU fishing vessels guaranteed access to UK waters for 12 years
Co-operation on security initiatives and procurement of defence products
Youth experience scheme to work, study or volunteer in UK and EU countries
Smoother border management with use of e-gates
Cutting red tape on import and export of food
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The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
KILLING OF QASSEM SULEIMANI
Gothia Cup 2025
4,872 matches
1,942 teams
116 pitches
76 nations
26 UAE teams
15 Lebanese teams
2 Kuwaiti teams
The figures behind the event
1) More than 300 in-house cleaning crew
2) 165 staff assigned to sanitise public areas throughout the show
3) 1,000 social distancing stickers
4) 809 hand sanitiser dispensers placed throughout the venue
A little about CVRL
Founded in 1985 by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, the Central Veterinary Research Laboratory (CVRL) is a government diagnostic centre that provides testing and research facilities to the UAE and neighbouring countries.
One of its main goals is to provide permanent treatment solutions for veterinary related diseases.
The taxidermy centre was established 12 years ago and is headed by Dr Ulrich Wernery.
The Specs
Price, base Dh379,000
Engine 2.9-litre, twin-turbo V6
Gearbox eight-speed automatic
Power 503bhp
Torque 443Nm
On sale now
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UAE currency: the story behind the money in your pockets
Killing of Qassem Suleimani
Test squad: Azhar Ali (captain), Abid Ali, Asad Shafiq, Babar Azam, Haris Sohail, Imam-ul-Haq, Imran Khan, Iftikhar Ahmed, Kashif Bhatti, Mohammad Abbas, Mohammad Rizwan(wicketkeeper), Musa Khan, Naseem Shah, Shaheen Afridi, Shan Masood, Yasir Shah
Twenty20 squad: Babar Azam (captain), Asif Ali, Fakhar Zaman, Haris Sohail, Iftikhar Ahmed, Imad Wasim, Imam-ul-Haq, Khushdil Shah, Mohammad Amir, Mohammad Hasnain, Mohammad Irfan, Mohammad Rizwan (wicketkeeper), Musa Khan, Shadab Khan, Usman Qadir, Wahab Riaz
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
