SHARJAH, 14 August 2005 — The emirate of Abu Dhabi has followed the example of Dubai by allowing foreigners the right to own and transfer real estate. A law to this effect was issued by President Sheikh Khalifa ibn Zayed Al-Nahayan, in his capacity as the ruler of Abu Dhabi.
The law states that non-UAE nationals shall have the right to own surface property, but not the land itself, in investment areas. Under the law, foreigners can own property in investment areas in the capital under a 99-year land title agreement or a renewable 50-year surface ownership deal.
Previously, Abu Dhabi restricted foreigners to leasing property. The law states that every property granted by the government to a UAE citizen, before or after the issuance of this law, shall be his/her (the beneficiary’s) property and would therefore be obligatory on him/her to register for property title. He/she shall also, within the boundaries of the law, have the right to use, invest and take advantage of it.
The law also said the Abu Dhabi Executive Council — the government of the emirate — will issue the rules on the transfer of ownership of the properties given out before the issuance of this law. The right to own properties, according to the law, shall be limited to UAE nationals and other corporate bodies fully owned by them.
Citizens of member states of Gulf Co-operation Council (GCC) shall also own properties which shall be within the area designed for investment, but they shall have the right to act on any real or liability of the properties.