The recent decision by Abu Dhabi to enact a free-hold property law is inclined to give a new impetus to the foreign investment flow into the country. This is also a strategic move that is expected to speed up the legislation of the long-awaited federal property law enabling full foreign ownership of real estate assets in the UAE as a whole, Khaleej Times reported Monday.
The federal legislation, also enabling foreign nationals to be issued a full title deed for their ownership of landed property anywhere in the UAE, will also prompt more developers coming to the fray with mega projects, the report added.
