Abu Dhabi lets foreigners buy freehold homes

[ABU DHABI] Foreigners can own property in Abu Dhabi on a freehold basis in designated investment zones, the emirate announced on Tuesday, seeking to attract more investors to its real estate sector.

Residential units in the zones will be registered under Abu Dhabi's freehold law, with property ownership deeds issued to investors, a statement from the Abu Dhabi Municipality said. Previously, foreign investors in Abu Dhabi property were generally limited to leasehold arrangements with 99-year leases.

The statement did not give details of the freehold arrangement or explain exactly how it differed from other property rights in Abu Dhabi, or from freehold rights abroad.