Abu Dhabi Properties
Exciting property developments
Intrested in property investments? Why don't try Abu Dhabi, the 2nd most popular travel destination in the Middle-East. Abu Dhabi is always behind Dubai about new and world class projects, but nowadays there are many interesting projects hence the recession.
Abu Dhabi Properties
Abu Dhabi and oil reserves go together. In fact, the Emirates is practically sitting on oil, which accounts for the amount of wealth generated in Abu Dhabi. Abu Dhabi is one of the richest countries in the world and has the highest per capita income and therefore, the people here enjoy a very high standard of living.
Abu Dhabi enjoys good weather all the year round, and since it is located at a stone's throw from Dubai, Abu Dhabi real estate has a great potential for real estate development. The soaring prices of real estate are an indication of things to come. The real estate boom is expected to hit the Abu Dhabi real estate scene like a blast of hot air. This boom is the result of the Emirate's plans for development across various sectors of economy. Abu Dhabi real estate was a bit hesitant, if not too slow, to join the real estate boom. But now, over six real estate companies have opened shop in Abu Dhabi, with the intention of transforming this wealthy city of the United Arab Emirates, into one of the most modern wonders of the world.
Dubai had always overshadowed Abu Dhabi real estate as far as property development was concerned. But now, Abu Dhabi is beginning to reassert itself in several sectors and has also put a step forward in the arena of real estate and property development.
It would be rather difficult to imagine, but development of $ 100 billion worth of real estate projects are under progress. Some of the upcoming new ventures, Najmat Abu Dhabi, Shams Abu Dhabi, and Danet Abu Dhabi have evinced a lot of interest not only from the people in Abu Dhabi, but also from investors abroad. In spite of the recession and fall in real estate in other places, Abu Dhabi real estate is continuing to do quite well.
ALDAR (one of Abu Dhabi's largest developers), has made a commitment to come out with projects that would cater to middle income groups. Abu Dhabi economy is plagued by the problem of affordable housing, since most of the projects that come up, are those which cater to the higher and richer classes of the society. The Urban Planning Council of the Government of Abu Dhabi has made it clear to developers that it would be encouraging only affordable housing units that are meant for serving the middle class segment of the society and that it has also set aside land for these projects.
Abu Dhabi real estate is all set to take the world by storm by making marked developments in the building portfolio. Three major real estate developers have got together for the development of Reem Island, which is a multi-billion dollar scheme. The island promises to become a new destination for business and tourism. One of the major attractions of this project is the development of Shams Abu Dhabi - a brand new city. One of the features of the city would be an 83-storey skyscraper, which is expected to be the tallest tower in Abu Dhabi and the 15th tallest building in the world.
Don't you think it is high time that you started looking at Abu Dhabi real estate options too?