Where foreign investors can now buy freehold property in Abu Dhabi


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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."

UAE currency: the story behind the money in your pockets
The bio

Studied up to grade 12 in Vatanappally, a village in India’s southern Thrissur district

Was a middle distance state athletics champion in school

Enjoys driving to Fujairah and Ras Al Khaimah with family

His dream is to continue working as a social worker and help people

Has seven diaries in which he has jotted down notes about his work and money he earned

Keeps the diaries in his car to remember his journey in the Emirates

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GOLF’S RAHMBO

- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)

PROFILE OF CURE.FIT

Started: July 2016

Founders: Mukesh Bansal and Ankit Nagori

Based: Bangalore, India

Sector: Health & wellness

Size: 500 employees

Investment: $250 million

Investors: Accel, Oaktree Capital (US); Chiratae Ventures, Epiq Capital, Innoven Capital, Kalaari Capital, Kotak Mahindra Bank, Piramal Group’s Anand Piramal, Pratithi Investment Trust, Ratan Tata (India); and Unilever Ventures (Unilever’s global venture capital arm)

The specs

Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder

Power: 220 and 280 horsepower

Torque: 350 and 360Nm

Transmission: eight-speed automatic

Price: from Dh136,521 VAT and Dh166,464 VAT 

On sale: now

The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

On sale: Now

Price: From Dh117,059

MATCH INFO

Uefa Champions League semi-finals, second leg:

Liverpool (0) v Barcelona (3), Tuesday, 11pm UAE

Game is on BeIN Sports

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Long read

Mageed Yahia, director of WFP in UAE: Coronavirus knows no borders, and neither should the response

Fixtures

Opening day Premier League fixtures for August 9-11

August 9

Liverpool v Norwich 11pm

August 10

West Ham v Man City 3.30pm

Bournemouth v Sheffield Utd 6pm

Burnley v Southampton 6pm

C Palace v Everton 6pm

Leicester v Wolves 6pm

Watford v Brighton 6pm

Tottenham v Aston Villa 8.30pm

August 11

Newcastle v Arsenal 5pm

Man United v Chelsea 7.30pm

 

FIXTURES

Saturday
5.30pm: Shabab Al Ahli v Al Wahda
5.30pm: Khorfakkan v Baniyas
8.15pm: Hatta v Ajman
8.15pm: Sharjah v Al Ain
Sunday
5.30pm: Kalba v Al Jazira
5.30pm: Fujairah v Al Dhafra
8.15pm: Al Nasr v Al Wasl

The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
BMW M5 specs

Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor

Power: 727hp

Torque: 1,000Nm

Transmission: 8-speed auto

Fuel consumption: 10.6L/100km

On sale: Now

Price: From Dh650,000

The specs: 2018 Chevrolet Equinox

Price, base / as tested: Dh76,900 / Dh110,900

Engine: 2.0L, turbocharged in-line four-cylinder

Gearbox: Nine-speed automatic

Power: 252hp @ 5,500rpm

Torque: Torque: 352Nm @ 2,500rpm

Fuel economy, combined: 8.5L / 100km

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 

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
UAE currency: the story behind the money in your pockets
The specs

Engine: Four electric motors, one at each wheel

Power: 579hp

Torque: 859Nm

Transmission: Single-speed automatic

Price: From Dh825,900

On sale: Now

Quick pearls of wisdom

Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”

Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.” 

THREE
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In numbers: China in Dubai

The number of Chinese people living in Dubai: An estimated 200,000

Number of Chinese people in International City: Almost 50,000

Daily visitors to Dragon Mart in 2018/19: 120,000

Daily visitors to Dragon Mart in 2010: 20,000

Percentage increase in visitors in eight years: 500 per cent