While reduced oil prices are undoubtedly a concern for the emirate’s authorities, economic diversification efforts of recent years mean Abu Dhabi is well placed to weather a prolonged period of subdued prices. Vision 2030 meanwhile contains a raft of goals that will further reduce the emirate’s reliance on hydrocarbons, and continue to foster the emergence of a more sustainable and knowledge-based economy in the years ahead.
Following a drafting and consultation process, in June 2015 the Abu Dhabi government promulgated a new real estate law, which officially came into effect on January 1, 2016. The 90-article law contains a wide range of measures, chief among which is the creation of a real estate registry – though some industry figures say that more remains to...
Indicators suggest that the ease of doing business in the Abu Dhabi construction industry is very high. The UAE as a whole (figures are not available for Abu Dhabi specifically) placed 31st out of 189 countries in the World Bank’s “2016 Doing Business” rankings, and second worldwide in the “dealing with construction permits” category (based on...
Currently, the construction industry is the largest employer by sector in Abu Dhabi, accounting for 29.5% of the employed population in the emirate in 2014 according to the Statistics Centre - Abu Dhabi (SCAD), up from 22% in 2013.
Activity and opportunities in the Abu Dhabi construction market appear to have slowed in 2015, due in part to a fall in the international price of oil. However, a wide range of large projects are currently being built, including a major airport terminal, nuclear power plants and a local branch of the Louvre museum. A number of construction and...
Real estate development in Abu Dhabi is dominated by large, mostly local government-backed companies, several of which are responsible for the master development of various emerging areas of the city. These developers include Aldar Properties, which has acted as the lead developer on Yas Island. Other major developers include Mubadala Real...
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