ME-ALLIANCE LEGAL UPDATE
Executive Council Decision No. (122) of 2024 Regarding the 40th Investment Zone in the Emirate of Abu Dhabi
The Government of Abu Dhabi follows specific strategies to enhance real estate investment in the Emirate. Consequently, a number of areas have been classified as “investment zones” to allow non-citizens to own real estate units within these zones, subject to specific conditions, criteria, and a defined ownership percentage limit.
• In this regard, the Executive Council has decided the following:
1.Approval of the designation of land parcel number (C11) in the Ghantoot area of Abu Dhabi (dimensions as specified in the attached plan) as the 40th investment zone within the Emirate of Abu Dhabi. The percentage of non-citizen ownership of real estate units in this area shall not exceed 60%.
2. Instruction to the Department of Municipalities and Transport to take the necessary actions in accordance with the applicable regulations and procedures.
To view the official decision>>Acrobat Document.pdf
Facebook
Twitter
LinkedIn
