Notes

Is Abu Dhabi another Dubai

Dubai has usually been at the forefront of the UAE property scene, he was the first Emirate to provide non-UAE excellent the right to buy qualities, allowing it to capitalise upon a brand new source involving foreign investment.

But within the final a couple of years we have begun to view adjoining Emirates take notice of their very own own real property potential, such because Ajman, Ras Approach Khaimah, and Abu Dhabi the capital regarding the UAE and its particular most wealthy Emirate. With a thriving economy and investor friendly economic guidelines the Emirate involving Abu Dhabi is definitely by far one of the most promising of the particular emerging Emirates, appearing an extremely attractive potential customer for both sector and tourism, intended for example:

Increasing government expenditure

Presently typically the government of Abu Dhabi is investing over $6 billion dollars into expanding and improving facilities in Abu Dhabi international airport, by 2015 the particular Abu Dhabi desires to see visitor numbers reach typically the 3 million level as an effect of significant purchase into the leisure time and tourism field, through planned future attractions such while Ferrari World.

Increasing inhabitants

The effect of this amount of investment within typically the economic and tourist infrastructure is expected to produce substantial numbers of new employment opportunities within just the Emirate, probably doubling the population in the next five years.

This increasing population which between 2001-2003 grew simply by 16% in conjunction with a relatively slow response to increasing demand intended for properties and holiday accommodation by Emirate which has only in the recently permitted non UAE nationals to purchase properties in Abu Dhabi on a 99 season lease basis, features triggered Abu Dhabi seeing a significant rise in local rental rates within typically the Emirate, rising by simply up to 30% inside of some cases inside the past year by yourself. Resulting in typically the local government reacting by capping local rental rises by seven percent.

Hindsight

Unlike Dubai when its' real estate market started hotting up, Abu Dhabi has typically the benefit of hindsight in its go for, having seen some associated with the negative issues affecting Dubais market, such as Male Power shortages that will can be attributed for delays within completion of a few projects. Alongside typically the effects of large scale constructions on tracks and transport system. These lessons coming from Dubai are currently being heeded by simply Abu Dhabi who will be conducting major enhancements to roads in addition to utilities infrastructure stretching out into the up coming decade in anticipations of an important growth in inhabitants and new raising numbers of household and commercial structure projects. This coverage is a quite positive indicator for any property entrepreneur.

Overall the prospect for Abu Dhabi is looking extremely bright with some sort of present shortage within supply of properties coupled with stunning headline catching super projects [http://www.miragerealestate.co.uk/Property.php?PropertyID=7] such while the Shams on Al Reem Island alongside affordable loved ones orientated developments like Hydra Village, where a two bed property can be acquired on resale by as little as AED569. 41 each square foot draws significant parallels in order to the early stages involving the Dubai House Boom. With Costs still low and even demand strong early Dubai property investors and those that missed the ship in the beginning of the Dubai property boom are appearing handed an additional possibility to make significant profits by trading into the Abu Dhabi real house market, with that will in mind, Abu Dhabi is definitely such as the next China for property investors.

By Hamid Shah Director of Mirage Real estate property Ltd ( [http://www.miragerealestate.co.uk] ), an UNITED KINGDOM based firm specialising in Middle Asian investment properties.

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