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 ›

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 ›

Abu Dhabi – As part of the emirate’s efforts in boosting transparency and further property investments, a new batch of 14 mediators have remotely taken an oath before Abu Dhabi Judicial Department under-secretary Yousef Saeed Al Ebri and Department of Municipalities and Transport under-secretary Abdullah Al Sahi.

The oathtaking was made in reference to the second batch of qualified Abu Dhabi real estate conciliators approved by Sheikh Mansour bin Zayed who are all certified and have passed the basic training program … Read more ›

Abu Dhabi residential communities have seen an increase in sales prices following higher demand in key areas as the country recovers from the repercussions of the recent pandemic.

According to Propertyfinder, the average sales listing price for an apartment in the emirate jumped from AED 1.15M as recorded in January to AED 1.3M in July, while villa / townhouse sales listing price went from AED 4.1M in January to AED 4.57M in July.

“In Abu Dhabi there is an undersupply of villas, … Read more ›

UAE: The Ministry of Human Resources and Emiratisation announced last week that private sectors in the country shall get four days holiday, starting from 19th July to 22nd July.

The said holiday is in celebration of Eid Al Adha which will start on 9th Dhu Al Hijjah (Day of Arafat), falling on Monday, 19th July, and will end on Thursday, 22nd July, following the Islamic calendar. The celebration will be paid holidays for all workers in private sectors, institutions and companies … Read more ›

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 ›