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In order to meet the preferences of people who linked their lives with a wonderful country, the government of Abu Dhabi announced a revolutionary decision on April 17: now all foreigners have the right to own land and real estate in the capital's investment areas.
Previously, such a privilege extended only to citizens of the UAE and the Gulf countries. Foreign investors, as a rule, were given the right to rent for ninety-nine years.
And now, UAE President Sheikh Khalifa bin Zayed Al Nahyan made changes to the provisions of Law No. 19 of 2005 concerning the real estate sector in Abu Dhabi.
The general director of Aldar Properties, Talal Al Dieby, commented on the investment innovation: “This announcement changes everything in the Abu Dhabi market. We are pleased with another perceptive political decision of the government that allows expats to buy property in investment zones.
The changes will not only contribute to the further growth and maturity of the real estate market, but also increase transparency and clarify property rights for property owners, increase long-term investments and will encourage people to stay in the country for a long time. ”
Photo by thenational.ae
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