New laws will boost Abu Dhabi home sales

The Abu Dahbi residential market is poised for major growth as overseas and domestic buyers gain more and more confidence from the city’s new property laws and regulations says Ozone Real Estate, an international broker group based in the United Arab Emirates (UAE).

“Recent regulation and the promise of future legal development to fortify existing laws and create new laws,” are making buyers fell “more optimistic about what the future holds,” Ozone told OPP this week.

“Abu Dhabi is in the process of forming a regulatory agency that will monitor escrow, mortgage and other related laws to protect outside investors and keep their best interests in mind,” says the agency. A new agency should help streamline the city’s sales and purchasing process by removing the ambiguity that has made the process confusing and, to some, risky it adds.

Source: OPP