Government of Abu Dhabi to issue new property law
The government of Abu Dhabi is considering to enact new laws this year, which will open the door to foreigners to own and invest in freehold real estate.
Shaikh Tahnoun bin Zayed Al Nahyan, Chairman of the Private Department of President Shaikh Khalifa bin Zayed Al Nahyan, expected that these laws would be promulgated in 2005. "The government has been working on formulating laws allowing foreigners to take advantage of the booming real estate sector. These laws will be promulgated soon," he revealed, according to Khaleej Times.