With the recent success of Cityscape Abu Dhabi, it is said that the emirate plans to invest Dhs1 trillion, or $270 billion, in new construction projects.
Abu Dhabi has been relatively slow in joining the global real estate boom, but now, with great investor interest and good public appetite for owning properties in the region, it is seen as one of the most upcoming investment destinations in the middle east.
The development pattern in Abu Dhabi is noticably similar to the inch to Dubai it is seen to follow the pattern of growth similar to that of Dubai by many. Attractive financing schemes are being offered to investors but yet, one thing that could decide the fate of investments in Abu Dhabi is that in the initial days, Dubai properties were priced on the lower side. Slowly when Dubai became a global hub for investments, coupled with a great government and infrastructural support, now Dubai properties are reasonably on the higher side. In contrast, for example, launched with prices from $2.2 million upwards which might be considered on the high side, although in a new real estate market this could be cheap for a luxury, Maldives-style location.
Contributed By : Pankaj Thukral