In 2022, the capital of the UAE, Abu Dhabi became the fastest growing economy in the Middle East, GDP up 9.3% on the previous year. As part of its growth vision and insistence on becoming a more diversified economy Abu Dhabi has now been able to deliver 50 per cent of its GDP with Non-Oil revenues.
A significant amount of growth has been contributed by real estate. The real estate market increased by 17.1% as Abu Dhabi increased the number of projects to meet the growing demand from international businesses and a growing population. In 2020 the population was 1,483,000. Whereas it is now 1,567,000 showing a growth of 5.66%.
With a tightly controlled supply of property through new developments demand remains strong and ensures property values remain high.
Abu Dhabi has become a great destination for smart investors as they have become aware of Freehold ownership of properties for foreign nationals, with multiple visa options available and the added benefits of no taxes payable on rental income.