Speaking on Friday, President of the UAE, His Highness Shaikh Khalifa Bin Zayed Al Nahyan unveiled a new property law for Abu Dhabi which will grant citizens and expatriate residents the chance to own and transfer property in the emirate.
Observers have suggested that the move is likely to create a significant demand for property in the region, and it has been welcomed by businesses and individuals alike.
Speaking to Gulf News with regard to the new regulation, a prominent Indian businessman announced that:
"As an expatriate, I wholeheartedly welcome the law that will allow expats to buy property in investment areas. I am sure many expats will now buy property and personally our group will invest in residential, hospitals and corporate office space. I congratulate the President on such a noble decision."
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