REAL ESTATE SECTOR DOMINATES ABU DHABI FOREIGN INVESTMENT
Property laws and regulations increase investor confidence as developers prepare to launch new projects at Cityscape Abu Dhabi next month
Abu Dhabi, UAE, 19 March, 2017: Foreign investors continue to pour billions into the Abu Dhabi real estate market, as new international standards and property regulations increase investor confidence in the sector.
According to Abu Dhabi Securities Exchange (ADX) investors outside of the UAE pumped $40.3m last month into the UAE capital, with the real estate market taking the lion’s share of 44.61% of the total shares.
GCC and foreign investors will be able to capitalise on the wealth of global investment opportunities at the 11th edition of Cityscape Abu Dhabi, which takes place from 18-20 April at the Abu Dhabi National Exhibition Centre (ADNEC).
With Aldar, Wahat Al Zaweya, National Investment Corporation, Cathay Invest Gayrimenkul Gelistirme A.S, Housing Development Corporation, Al-Za’ed Al-Aqari, Bloom Properties and a host of other local and international developers set to launch their latest projects at the three-day show, industry experts believe the new property laws are vital for the sustainability of the market.
Robert Jackson, RICS Regional Director and speaker at the new Cityscape Talks this year said: “The introduction and adoption of International Standards and regulations are absolutely critical to the development of the market in the Middle East.
“Measuring and valuing construction projects and real estate consistently is a complete game changer and a catalyst for developing internationally competitive real estate markets in this region. It is important the region is 'talking the same language' as the rest of the world relating to standards, metrics and regulations.
Jackson added: “As the Abu Dhabi economy diversifies and real estate becomes an increasingly important component of that diversification, transparency, standards, regulations and robust but fair dispute resolution provide investors and corporate occupiers and end-users confidence in the market. Standards mitigate risk of delays and disputes and help drive efficiency into the sector.”
With sales permitted directly from exhibitor stands, in accordance with the rules and regulations administered by the Abu Dhabi Urban Planning Council (UPC), over a hundred companies and brokers have confirmed their participation at the capitals largest real estate show next month.
Rami Hreiki, Chief Development Officer, Bloom Properties said: “The UAE real estate market is showing some significant signs of improvement. Investors have to be more opportunistic to maximize their investment returns. This requires careful alignment of investment strategies with market requirements and client needs.
“The right approach in this regard will depend on the objectives and priorities of each investor. In the build-up to Expo 2020, we expect to witness a lot of development activity, and the impact of the event on real estate prices will largely depend on supply and demand dynamics. The government has provided a strong regulatory framework with the introduction of the new property regulation last year. The law has provided a strong boost to the sector and has given more confidence to buyers and investors.”
Further highlighting the increased investor confidence in the market from the new property laws, Talal Al Dhiyebi, Chief Development Officer, Aldar said: “There has been a significant amount of investment in Abu Dhabi, increasing its desirability for residents and tourists and Aldar is a central facilitator in its transformation.Initiatives such as the recently implemented Abu Dhabi real estate law show that the government is committed to a fair and transparent property market, encouraging local and international investment alike.
“We continue to see strong demand for high quality homes, offices and leisure destinations, and this is supported by the performance of our current developments in the market, which still outperform the wider residential market.”
Held under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, the show will see the return of the Cityscape Abu Dhabi Conference featuring a range of unique topics and speakers providing valuable insight into the capital’s real estate market.
The free to attend Cityscape Talks will also be making their debut at the show after proving to be a big hit at Cityscape Global last year and will offer live content direct from the show floor as well as industry sessions focusing on key themes for real estate brokers, architects, engineers and other professionals.
Bringing together investors, developers, government officials and real estate professionals alike, the UAE capital’s largest and most influential property investment and development event is gearing up for a successful edition, with international developers attending the show from more than ten different countries.
For more information on the show, visit www.cityscapeabudhabi.com or call +9714 336 5161.
Caption: Foreign investors continue to pour money into the UAE capital as Cityscape Abu Dhabi prepares to showcase hundreds of new developments next month.
