Property in Abu Dhabi Preferred Choice for Residential and Institutional Investors
Are you now done with the 2007 property burst? Perhaps, it is time now to bounce back and that too with full vigor and unprecedented higher energy level. The richest emirates among the seven emirates in the United Arab of Emirates and the world’s one of the richest cities - Abu Dhabi is welcoming you with open arms, warmth and joy! Having been regulated by stringent rules for many decades, this pearl of the Arabian Gulf too now has managed to catch up with the air of liberalization infecting the entire world, barring few exceptions, of course!
The liberal property regulations along with disappointment with Dubai have fueled the real estate growth in Abu Dhabi. Buying a property in Abu Dhabi or to rent apartments in Abu Dhabi has become easier and even popular. In 2009, this Emirate had approximately Dh520 billion gross domestic product and $83,346 per capital gross domestic product in the same year. This meteoric and robust economic growth of Abu Dhabi has indeed contributed in driving the ambitious development projects such as Al Reem, Al Raha Beach, Saadiyat Island, Lulu Island, Mina Zayed Port and various industrial cities across Abu Dhabi. All these development projects are executed under the umbrella of the Higher Corporation for Specialized Economic Zones.
In the wake of such ambitious development projects, the options to buy properties or rent apartments in Abu Dhabi have increased many folds. The prospects to buy property and enjoy the sweetness of the ownership of the property for which earlier investors or residents used to shell what is deemed as “dead money” are brighter in Abu Dhabi. The sound present and the hope for brighter future have attracted all types of people to make this Emirate their preferred choice. There are plenty of expatriates in the city who have actually planted their roots now in the soil of this Arabian wonder!
However, if you are a potential investor or a resident, it is indeed difficult and daunting task to decide which property would prove to be a great investment or pleasant residence. The most obvious hand-on tool available to make this task easier is to search for a good real estate broker who can show you the exact property in sync with your investment and residential needs. But, another great question is how to find such a reliable broker? An urban and tech-savvy consumer would turn to Google and browse through hundreds of online resources to choose the broker. But, explosion of information is not always the guarantee of transparency and dependability.
Then, what are the symptoms that speak of dependability and transparency? The most traditional and seemingly out of date method is word of mouth. In an environment when mobiles and chats are used to speak even with the one who sits next to you, to ask about anything, not to forget reliable brokers, to people co-existing with you may seem old-fashioned, but it is indeed time-tested and successful method to find anything.
Though, individualist may see in this practice an existential dilemma as how can the experiences of someone be true for others? Yes, there is some sense in this dilemma but, sometime, the mundane practices are good for mundane tasks. And, I guess to find a sweet home first is mundane and very much physical task and the sweetness that is associated with it is the next phase related to emotional and spiritual quotient of an individual. Therefore, if you are in search for property in Abu Dhabi or want to rent apartments in Abu Dhabi, take into consideration this old-fashioned but time-tested method!
