Sunday, August 14, 2005

Investment: Foreigners can own property in The emirate of Abu Dhabi

The emirate of Abu Dhabi has passed a law by allowing foreigners the right to own and transfer real estate.

The law states that non-UAE nationals shall have the right to own surface property, but not the land itself, in investment areas. Foreigners can own property in investment areas in the capital under a 99-year land title agreement or a renewable 50-year surface ownership deal