Over the past few decades, Abu Dhabi has risen in attractiveness to residents, visitors, and tourists alike, due to its stunning cultural history, alongside its forward thinking and distinguished architectural designs.
Abu Dhabi continues to gain residents and tourist attraction in 2020, as there are many reasons people from all over the world are drawn towards the capital. From hosting the world’s fastest roller coaster in Ferrari World, to building the very carefully and beautifully designed museum – The Louvre in Al Saadiyat Island, to theme parks like Warner Bros Abu Dhabi, and the largest mosque in the country, Sheikh Zayed Grand Mosque, Abu Dhabi never fails to impress tourists with the range of leisure activities it has to offer and the outstanding infrastructure of its buildings all around the city. Of course, it also does help that Abu Dhabi was announced as the safest city in the world according to a newly released global crime index.
Abu Dhabi’s focus depends mainly on oil exports. The economy of the United Arab Emirates (or UAE) is the second largest in the Middle East, with a gross domestic product (GDP) of USD 414 billion (AED 1.52 trillion) in 2018. A third of the UAE GDP is from oil revenues. Hence, Abu Dhabi has become a first choice for many who seek new business ventures and investment opportunities due to its ever so growing economy and plentiful, secure employment opportunities.
Tourism is one of the bigger non-oil sources of revenue in Abu Dhabi, with some of the world’s most luxurious hotels, a massive construction boom, an expanding manufacturing base, and a flourishing service sector that are all collectively aiding the city in diversifying its economy, as the UAE government has long been investing in the economy to diversify and reduce their dependence on oil revenue.
Moreover, Expats from all around the world, visit and reside in Abu Dhabi for employment, entrepreneurship, and other business ventures. According to estimates by World Bank and Department of Census and Statistics of the United Nations, the population in the two largest emirates in 2014 revealed that the number of residents of the emirate of Abu Dhabi was about 2.6 million (according to Statistics Centre – Abu Dhabi). (Population and demographic mix, 2020)
One of the factors which draws investors to investing in Abu Dhabi is the large number of residents in the city. Investors are aware that a large percentage of the residents residing in Abu Dhabi are renting their homes which guarantees great ROI for investors who are looking to buy property to rent.
Abu Dhabi is also currently considered to be the best market in MENA (Middle East and North Africa) in terms of the financial strength of real-estate players with its sovereign and private wealth combined with strong government support for the real estate sector. In addition to sovereign wealth funds and private investors, Abu Dhabi has multiple strategic overseas investments and is becoming ever more dominant on the world stage.
Both ready and new off plan properties in Abu Dhabi are offered by property developers in the capital for investment. Most investors in Abu Dhabi are locals or from other Arab Nationalities. Investors most often prefer to invest in Abu Dhabi due to the great potential ROI the city holds with so many expats visiting, residing, and moving for business. This makes the real estate industry one of the most popular and most profitable industries for investors looking to capitalize on their money.
Ready projects are a quick and convenient solution for people who already have money saved or are comfortable taking out a bank loan to invest in property. Abu Dhabi provides various ready projects with different infrastructural designs, well serviced communities with impeccable facilities, and comfortable payment plans to ease the process for interested investors when deciding to buy property.
New off plan projects in Abu Dhabi have also received great interest from investors. Abu Dhabi offers promising forward-thinking architectural design, outstanding residential and commercial projects facing waterfront views, new urban communities, and many natural islands consisting of residential, retail, and commercial units. Real Estate companies in Abu Dhabi also offer flexible payment plans on off-plan properties. With investing on new off plan properties you can divide the payment into smaller amounts that can be paid during the construction process and then pay the rest of the amount at the handover of the project years after (depending on the project and the property developer’s offer). Some property developers in Abu Dhabi also offer the post hand-over payment options
The UAE Real Estate Market in general has been doing well. The data from Abu Dhabi Department of Municipalities and Transport showed that the value of real estate transactions in Abu Dhabi increased during the first quarter of this year by 22% to Dh19.2 billion, compared to about Dh15.8 billion for the same period of the previous year.
Some of the most popular areas in Abu Dhabi right now which are being sought after for real estate investment are: Yas Island, Masdar City, and Al Reem Island; amongst other places within the city which show great promise to be lively and bustling with residential and commercial buildings for residents and visitors to enjoy, and for investors to profit from.
Reportage Properties is one Abu Dhabi based property developer who is recognizing the rising attractiveness of these areas and offering their investors both residential and commercial properties in these attractive locations. Reportage Properties has handed over Leonardo Residence in 2018 in Masdar City and presently has on-going residential projects like Oasis 1, Oasis 2, The Gate in Masdar City; as well as an on-going commercial project “Reportage Tower” in Al Reem Island.
Reportage Properties also ensures flexible payment plans for all their projects and always keeps their clients up to date with the latest offers and payment plans through social media to make sure investors have various options to choose from for their convenience.