The Government of Abu Dhabi continues to support the real estate market through the implementation of a number of laws such as Law No. 19 of 2005 on real estate ownership, which opened the door for expatriates to own properties in the form of sub-land apartments.
The Abu Dhabi Government Services System (TAM) website provides a set of tips to help you find the perfect home you want to buy in Abu Dhabi by searching for approved properties, obtaining finance, documenting home ownership and finally accessing all utility services. That you may need.
The Abu Dhabi government offers four major regulations that allow foreigners to own property in Abu Dhabi:
First: Ownership System
Specific title deeds for foreigners that include the ownership of housing units without land for a period of about 99 years and gives them the full right to dispose of the apartments and villas they buy without land.
Second: the system of flattery
Foreigners can own residential units within certain investment areas under “Musataha” contracts for a period of 50 years, renewable by agreement of the parties for a similar period that enables construction on unused land. Flats contracts entitle the owner to enjoy the use, construction or alteration of the property within a specified period of years.
Third: the use system
Foreigners can own residential units within certain investment areas under “usufruct” contracts for 99 years. The use contract entitles the owner to enjoy the use of the property and its facilities without being able to change it.
Fourth: the long-term rental system
The right to lease units for an initial period of not less than 25 years.
The site helps researchers identify areas of ownership. Abu Dhabi has nine areas where foreigners are allowed to own properties: Yas Island, Saadiyat, Al Reem, Al Maryah, Lulu, Al Raha Beach, Saih Al Sudairah, Al Reef and Masdar City.
The most popular areas remain among foreigners, Saadiyat Island, Al Reem Island and Al Raha Beach.
Sa'adiat Island
The island is comprised of six zones, each of which has a unique character and features that distinguish it from other regions, amidst a rare natural environment;
Reem Island
Al Reem Island is a world-class integrated city with many attractions such as hotels, marinas, restaurants, parks, entertainment centers, art galleries and more.
Al Raha Beach
It consists of 11 districts, each of which has special advantages that distinguish it from other neighboring areas. Al Raha Beach offers many hotels, marinas, parks and parks and is the new gateway to Abu Dhabi, located on the main road connecting Abu Dhabi to Dubai.
Before purchasing any property that has not yet been constructed, the Abu Dhabi Government Services website advises individuals to ensure that the project developer is registered with the Department of Economic Development in Abu Dhabi.
It is also advised to ensure that the purchase agreement includes the date of delivery and the compensation awarded if the project is not completed by the specified date.
If you buy a property for resale, you should avoid paying any part of the agreed amount of the purchase without a sale agreement or any other form of contract.
The site stated that some real estate disputes may arise between developers and investors such as breach of their obligations to complete projects on time, so in case of any disputes, it is advised to inquire about the status of the project from Abu Dhabi Municipality, contact the project developer to get a statement of the status of the project and the estimated time of completion, Ensure that all amounts due to the developer are paid up to the date of filing the lawsuit with Abu Dhabi courts.
Updated Property Law
Last April, a law was issued amending some provisions of Law No. 19 of 2005 on real estate ownership.
The law provides for the replacement of the provisions of articles (3) and (4) of Law No. 19 of 2005, where the new article (3) provides as follows: The right of ownership of real estate is limited to the following categories: “Citizens and the like are natural and legal persons. To public shareholding companies in which the percentage of non-citizens does not exceed 49%, in addition to any decision issued by the Crown Prince or the Chairman of the Executive Council ».
Article (3) stipulates that “non-citizens who are natural or juridical persons own and acquire all the rights in kind in kind and subordinate to real estate located within the investment areas.
The new Article (4) stipulates that “a person who has the right of usufruct or the right of leasehold, for more than 10 years, without the permission of the owner, shall dispose of this right, including his mortgage. In both cases, the parties may agree otherwise. ”