Plan for 100% ownership

Abu Dhabi is considering allowing 100 per cent foreign ownership of some projects in the emirate, the chairman of the Department of Economic Development revealed yesterday.

"We feel strongly inclined to grant 100 per cent ownership to foreigners in new and old industries as well as other projects," Nasser Ahmed Al Suwaidi told Emirates Business.

"The percentage might be less in other sectors according to the emirate's needs. Ownership covers projects and not land."