As Abu Dhabi accelerates efforts to diversify its economy away from a reliance on hydrocarbons, development of Al Maryah Island has become a top priority for real estate and construction. An international financial free zone and mixed-use real estate development, the island is expected to become a major financial and business district,...
Although it has risen to become a strong contributor to GDP and diversification over the past 15 years, Abu Dhabi’s real estate sector is feeling the pressures of an economic slowdown, brought on by a period of depressed oil prices and spending cuts that have affected markets across every property segment.
Many of Abu Dhabi’s light and heavy industrial businesses are located in its specialised economic zones (SEZs), which have proven popular because of the range of attractive benefits they offer. Although the benefits may vary from zone to zone, in general they include the possibility of 100% foreign ownership, something not currently possible...
In 2017 Abu Dhabi’s construction sector should begin recovering after global oil prices reached their pain point in 2016, ending the year two-thirds higher than in January following a landmark OPEC deal. Stabilising oil prices allowed the government to reduce spending cuts, and the industry’s long-term outlook remains positive since the Abu...
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