Where foreign investors can now buy freehold property in Abu Dhabi

Islands, business hubs and Masdar City among those named investment zones by the Department of Urban Planning and Municipalities

View of the business district at Abu Dhabi Global Market square (ADGM) on Al Maryah Island, which is a designated investment zone. Alamy

View of Yas Gateway Park. The island, home to Yas Waterworld, Ferrari World and numerous Aldar developments, is among those listed a designated investment zone. Pawan Singh / The National

HIDD Saadiyat Villas on Saadiyat Island are available to foreign buyers. Mona Al Marzooqi / The National

Hidd Al Saadiyat Villas front a private beach. Mona Al Marzooqi / The National

Villas in Al Reef, a residential area adjacent to Abu Dhabi International Airport, that is now open to foreign investors. Andrew Henderson / The National

Apartments at Al Reef. Victor Besa / The National

View of the Abu Dhabi skyline from the top of a man-made sand dune on Lulu Island, which is set to be transformed into a multi-usecommunity by Surouh Real Estate and is among those designated for foreign ownership. Nicole Hill / The National

Jubail Island, between Saadiyat Island and Yas Island, is to be transformed at an estimated cost of Dh5 billion and house up to 6,000 residents. Courtesy of Apco

Al Maryah Island - home to the Galleria, Cleveland Clinic Abu Dhabi, Abu Dhabi Global Market and the soon-to-open start-up centre Hub71 - is open to foreign investors. Courtesy of Al Maryah Island

Visitors at the Al Muneera community at Raha Beach with Al Zeina apartments in the background. The coastal neighbourhood is open to foreign ownership. Pawan Singh / The National

A 12 minute boat ride from Abu Dhabi, Nurai Island is a resort and villa community on the list for foreign freehold buyers. Christopher Pike / The National

A picture taken on September 4, 2018 shows a driverless vehicle in a street at the site of Masdar City, a planned sustainable city project powered by renewable energy on the eastern outskirts of the Emirati capital Abu Dhabi. (Photo by Mahmoud KHALED / AFP)

Cloudy skies over Abu Dhabi's Reem Island, a residential community adjacent to downtown and Al Maryah Island. Jason Von Berg / The National

Saadiyat Island - host to Manarat Al Saadiyat, NYU Abu Dhabi and the Louvre Abu Dhabi - is the cultural hub of the capital and opening up to foreign property ownership. Mona Al Marzooqi / The National

Under Abu Dhabi's new freehold law, foreign investors can buy property for the first time in the emirate within designated investment zones, which include private resort Nurai Island, eco-friendly Masdar City and Al Maryah Island, the location of the capital's future start-up centre Hub71.

The National received the full list of the designated zones from the Department of Urban Planning and Municipalities. Here is where non-GCC nationals can buy freehold property:

• Raha Beach
• Reem Island
• Al Reef
• Lulu Island
• Saadiyat Island
• Yas Island
• Saih As Sidirah
• Masdar City
• Al Maryah Island
• Al Falah
• Fahed Island
• Hiid Al Saadiyat
• Al Jurf, Ghantoot
• Nurai Island
• Jubail Island
• Al Shamkha
• Palace Breakwater

Foreign investors in Abu Dhabi’s real estate market were previously granted leasehold arrangements with a maximum 99-year time period but, last week, the rule was amended through a royal decree, a move aimed at supporting the capital’s property market, boosting foreign direct investment and strengthening its economy.

Until the changes, freehold ownership of property was only allowed for UAE and GCC nationals. Parcels of land and units within the designated investment zones will now be registered under Abu Dhabi’s freehold law, with property ownership deeds issued to buyers of real estate in the emirate.

According to property experts, the legal changes will also help to level the playing field between Abu Dhabi and Dubai, where foreigners are already allowed to buy freehold real estate in investment zones. The changes were enacted after a government study to examine the needs of the property sector, including meetings with investors, developers and others, according to the Abu Dhabi Executive Council.

"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," Edward Carnegy, director, head of Abu Dhabi office at Savills Middle East, told The National at the time of the annoucement.

"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."