“Abu Dhabi is an excellent place to live”, says real estate expert

The preference was attributed to factors such as government initiatives, dynamic society and ambitious infrastructure projects

Abu Dhabi was recognised as an excellent place to live by industry expert, Carlos Wakim, CEO of Bloom Holding. The attractiveness of the capital as a residential hub was attributed to several initiatives including Golden Visafreelance visas, ambitious infrastructure projects and major transport links such as Etihad Rail.

“Abu Dhabi is an excellent place to live. Over the years, the UAE government has implemented several initiatives aimed at attracting and retaining top talent and creating a diverse and dynamic society within each of its Emirates. Measures such as the 10-year golden visa, freelance and entrepreneur visas, and retirement visas are just a few examples of these efforts,” Wakim said in an exclusive interview with Arabian Business.

“Abu Dhabi’s ambitious infrastructure projects have also played a vital role in supporting the real estate market. The construction of major transport links, such as Etihad Rail, has improved connectivity within the city and beyond, which attracts both local and international investors,” he added.

According to Wakim, the capital sees a growing preference for mixed-use integrated and gated communities with residents seeking spaces with a wide range of amenities including “open green spaces, exclusive lifestyles and scenic waterscapes.”

Carlos Wakim, Bloom Holdings
Carlos Wakim, CEO of Bloom Holdings

Abu Dhabi real estate: Opportunities and growth

Abu Dhabi real estate has witnessed remarkable growth in recent years offering “a wealth of opportunities” for developers, investors and homebuyers.

“In 2023 and beyond, we anticipate property values and rents will continue to steadily increase,” Wakim said, “this is based on Abu Dhabi’s growing reputation as one of the world’s leading real estate markets, fuelled by its stable economy and rising property values.”

Last month, a new rule was announced for buying and selling property in Abu Dhabi that came into effect on July 3.

The introduction of this new template aims to ease the buying and selling process for off-plan properties while ensuring transparency and trust between developers and investors.

At the time of the announcement, Dr. Adeeb Al-Afifi, the Executive Director of the Real Estate Sector at the Department of Municipalities and Transport said, “The introduction of the Unified Sales Contract aims to enhance the governance of the real estate market, provide a seamless and efficient government service experience, and accelerate digital transformation in Abu Dhabi.”

Abu Dhabi Adeeb Al Afeefi
Dr. Adeeb Al-Afifi, the Executive Director of the Real Estate Sector at the Department of Municipalities and Transport

Wakim concluded by saying, “The real estate market in the UAE is well-diversified. It offers residents and investors a wide array of properties to suit their every need. With a range of exciting projects currently being developed, or in the pipeline, Abu Dhabi’s real estate market is certainly booming.”

Article Source: www.arabianbusiness.com

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