Credit By: ZAWYA
Abu Dhabi will construct a breakthrough Real Estate Centre to improve real estate services and boost economic growth. This newly approved entity, under the Department of Municipalities and Transport (DMT) and supported by the Crown Prince of Abu Dhabi, Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, is expected to unify all real estate services, streamline property-related procedures and attract investors to the emirate. This article discusses the Abu Dhabi Real Estate Centre’s priorities and impact on the region’s real estate industry and economy.
Abu Dhabi Real Estate Centre
According to the Abu Dhabi Government Media Office, the Abu Dhabi Real Estate Centre marks a significant change in the emirate’s real estate policy. This ambitious project, led by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, seeks to centralize all real estate services. Real estate regulation and control will be streamlined and more efficient.
Centre Goals and Duties
The newly constructed Abu Dhabi Real Estate Centre will drive real estate developments in the Emirates. It has many duties that will benefit the region’s property market and economy:
The center develops plans to govern and grow the real estate market. The center will help create a robust real estate market that attracts local and international investors by setting a clear development path.
Real Estate Initiatives:
The center will handle Abu Dhabi real estate development initiatives. These projects are monitored and assessed to ensure they fulfill the emirate’s growth goals and quality and sustainability criteria.
The Abu Dhabi Real Estate Centre would oversee government tenders for real estate development projects to streamline them. This will boost procurement openness and private sector investment, boosting real estate competition and innovation.
Real estate investment promotion is another central priority. By welcoming investors and fostering a conducive atmosphere, the center will boost capital inflow, employment creation, and economic diversification in the emirate.
Economic Growth Impact
The Abu Dhabi Real Estate Centre supports the emirate’s economic development. This program streamlines property-related procedures and unifies real estate services to make real estate activities easier for investors, developers, and other stakeholders. Abu Dhabi’s non-oil GDP is predicted to rise due to a more efficient real estate sector, lessening its hydrocarbon dependence.
Abu Dhabi’s Real Estate Centre announcement shows a commitment to encouraging investment and economic progress. This united entity’s mandate includes strategic planning, project control, tender administration, and real estate investment promotion, enabling Abu Dhabi to diversify and grow.
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