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Future Projects Abu Dhabi (courtesy TDIC)

Abu Dhabi Projects

The last five years has seen a mega transformation of the city and years of cranes, closed roads, traffic and noise pollution is finally starting to ease off and shed light on a new, sophisticated and organised Abu Dhabi.  Frequent travellers to Abu Dhabi will notice the instant change to the skyline, as tall towers start to take shape and improved road infrastructure gives way to faster routes to the airport and Dubai. 

Months of reading plans and viewing mini models of the many new districts and developments is gradually becoming a reality and everyone connected to this makeover feels proud that their city is slowly getting much spotlight attention.  This interest will definitely continue for the next 20 years as the on-going agenda is Plan 2030.  Abu Dhabi’s vision 2030 is a series of government backed initiatives for key infrastructure, real estate, tourism and financial targets for the next 20 years.  There are currently 1 million residents in Abu Dhabi. By 2030, this is will rise to just over 3 million.  The 2030 plan incorporates targets to meet this growth and in turn provide a surge in GDP growth thus easing off reliance on their natural commodity – oil and gas.

 There will be greener ways of living to contribute to a sustainable environment - building parks, energy efficient homes and efficient modes of transport, developing harmonious communities, road infrastructure, new retail complexes, more office space, parks and housing.  There has also been a focus on creating a better work environment by extending the current downtown area and introducing a central business district, making as many jobs closer to home, striving for quality of life at work and obtaining a diverse economy.  Tourism will be boosted by creating a city of culture with the world famous Louvre and Guggenheim as well as embracing the love of sport starting with the F1 Grand Prix.   There has also been a highlight on the importance of quality education by building world famous campuses such as the New York University, Paris Sorbonne and more. 

These changes will be spearheaded by the Urban Planning Council (UPC) headed by His Highness Sheikh Mohamed bin Zayed Al Nahyan, crown prince of Abu Dhabi and will oversee that all development work adheres to careful planning when it comes to preserving the natural environment and sensible use of building heights etc.  Plan 2030 is the biggest project ever undertaken and will totally revolutionise Abu Dhabi, making many headlines in years to come. 

 

Property in Abu Dhabi

Up until recently, the majority of property in Abu Dhabi has been for sale to UAE Nationals only.  According to Asteco, a leading property management company, a large number of the properties bought by UAE nationals are for investment purposes and rented out to expatriates as the community villa design does not suit the UAE nationals requirement.  Recently, the laws have become flexible and now allow foreign nationals to be able to purchase various properties in some developments such as Al Reem Island and Al Raha Beach.  It appears that apartments are more easily available to buy for foreigners then villas.  According to Asteco, there are currently only two villa developments available for investment as freehold for all nationalities, these are Al Reef Villas and Hydra Village.