Abu Dhabi 365

Abu Dhabi is the capital of the UAE. This city is marked by its breath taking sky scrapers that are of great architectural beauty. It is a very modern city. The government of the UAE finds home in this city. Its economy is mainly oil driven. In fact it is the headquarters of the emirates oil operating companies. It is the Federal capital of the UAE and the largest emirate among the seven emirates.

Abu Dhabi is very modern in its look. About two hundred and nineteen buildings can be found in this city. It boasts of state of the art infrastructure nearly all throughout the city. Besides its beautiful shopping complexes, it has now developed several tourist attractions. If you are planning to visit soon, you will be happy to know that it is considered as one of the safest tourist destinations in the world and it offers you the best tourist facilities. The city does not only take pride in its skyline, it has luxury hotels, gardens, parks, mansions, extravagant villas, beaches and boulevards to brag of. Abu Dhabi is a well planned city, along with its skyscrapers; time has been spent on maintaining a healthy environment. In Abu Dhabi alone, over 120 million trees were planted.

So far Abu Dhabi has been extremely slow in joining the regional real estate but it is soon catching up, all thanks to the new property ownership laws that are finally in place. The Emirates have been quick to embark on several big projects. They are soon to launch a $14.7 billion project - Al Raha Beach and a $6.8 billion project - Shams Abu Dhabi project by Sorouh Real Estate. The first phase of the Al Raha has already been sold out. Every unit of the phase was bought by the local Emiratis.

With the change in the rules of the property ownerships, people residing elsewhere than Abu Dhabi are welcomed to invest in its property. It even allows them to purchase leasehold property in the Emirates. Many industrialists were really caught by surprise by this new law, though a few expected it, they were shock by its enforcement so fast. All of them welcome this law as it means they can participate in the market of Abu Dhabi which is a sea of wealth. Many who did not participate in buying real estate in Dubai are keen to now buy real estate in Abu Dhabi, especially because of its easy access to Dubai. Under the law recently passed, only apartments are available as real estate. Since the law is fairly new, it is hard to judge what the reactions of the UAE will be. However, plans for huge massive buildings are already in place. Right from housing complexes, hospitals, hotels, polo centres, clinics, schools, equestrian centres, shopping malls, to spas. There are tons of expatriates who are busy lining up to buy a place in this fast budding international property market. The Dubai real estate market is going to have tough competition with this new rising real estate market in Abu Dhabi.