Property News: Developments
27 September 2021
First Abu Dhabi Bank (FAB), the UAE’s largest bank, collaborated with the Abu Dhabi Residents Office (ADRO) to offer exclusive and competitive mortgage rates and deposit products for Golden Visa holders in Abu Dhabi.
Under the scheme, eligible visa holders will have access to five-year fixed mortgage rates from 2.49% per year with a fee waiver and up to 1.68% iSave deposit rates per year.
“By providing recipients of the UAE Golden Visa exclusive benefits for mortgages and deposit products, FAB is … Read more ›
26 September 2021
The Central Bank recently released its Quarterly Economic Review for the second quarter of 2021.
The report states a 2.1% growth this year and a projected 4.2% increase next year, following the UAE’s actual production, Opec+ announcements and the pending output schedule from January 2021 to July 2021. The previous prediction of 3.8% climb in 2022 was revised by CBUAE as a result of increased public purchasing, banks’ credit outlook, higher employment and better business sentiment.
“The improvement reflects the better sentiment … Read more ›
13 September 2021
Abu Dhabi – As the country awaits the celebration of its Golden Jubilee, the government has announced a series of projects and initiatives to transform the UAE’s economic, political and social status over the next 50 years.
The first set of projects was declared on 5th September with new schemes on visas, campaigns to attract foreign investment and strategies to support local companies tackled. The aim is to ensure a sustainable future for all of its residents. This recent announcement was … Read more ›
26 July 2021
Abu Dhabi – Yas Creative Hub, the first industry-specific hub in GCC for media, entertainment, and gaming, is set to house Twofour54 Abu Dhabi, the capital’s media free zone, by Q4 this year.
Media and gaming giants CNN, Ubisoft and Unity Technologies have already confirmed to join, and more than 600 companies are expected to follow suit.
The megaproject spreads over 2.9 million sq.ft. (270,000 sq.m) and 16,000 + professionals will relocate to the new campus by 2031, three times as many … Read more ›
15 July 2021
In 2020, a number of measures to support the nation were implemented by the Abu Dhabi government in order to stimulate and raise the declining real estate market.
These initiatives had helped retain public confidence in the sector and had led to further demand, boosting interest.
About 1,700 apartments and 50 villas were recorded by Asteco to have been delivered in the first quarter of 2021, with 11,600 additional residential stocks (11,000 apartments and 600 villas) expected to enter the fast-paced market … Read more ›
15 July 2021
The onset of the COVID-19 pandemic in 2020 has the UAE and the rest of the world in a downward economic spiral.
Educational institutions have shut down, the workforce was mainly made to work from home, the ports and borders were momentarily closed, and a number of people have lost their jobs.
With the whole world drawing a blank on how to face such a global crisis, the UAE government was quick to act and combat this drawback: PCR tests were readily … Read more ›