Opportunities to invest improve in UAE
Free zone real estate in the UAE, for example the Free Zone property in Dubai, has given foreign investors the opportunity to own outright certain sectors of land and property that traditionally were retained by the sovereign state.
Until now, real estate beyond the zones remained firmly in the grip of the respective emirate state, but a new piece of legislation about to be passed will see a relaxation with foreign investors being given the opportunity to own greater percentages than previously permitted.
Previously investors could own only up to 49%, and whilst that is about to improve drastically, it still won’t mean 100% ownership. In addition, certain strategic real estate will remain firmly in the hands of the state, namely gas and oil facilities.
What it comes down to is the needs and requirements of the individual emirates to continually attract outside investment, and it’s hoped the incentive will broaden the buyer’s view of the market whether considering buying property in Dubai or property for sale in Abu Dhabi.