Aldar welcomes easing of freehold rules in Abu Dhabi | ZAWYA MENA Edition:
Master developer Aldar Properties on Wednesday welcomed the Abu Dhabi government’s removal of restrictions on foreigners owning the freehold of land and properties they purchase in investment zones, a privilege previously reserved for UAE and GCC nationals.
The Abu Dhabi stock-exchange listed developer, citing a government notification, said in its press statement that residential units in investment zones would be registered under Abu Dhabi's freehold law with property ownership deeds issued to investors.
The statement noted that previously, foreign investors in Abu Dhabi property were generally limited to 99-year leasehold arrangements.
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