Ramadan in Abu Dhabi: buying property during the Holy Month
Abu Dhabi is a developing city with endless investment opportunities. It’s the capital of the United Arab Emirates and the largest emirate, taking up 87% of the whole country’s territory. GDP contribution here is the highest in the country as 60% of the UAE economy is concentrated here.
The city attracts foreign investors wishing to generate a stable income, as well as business individuals aspiring to obtain real estate for themselves. The property market of the emirate provides a huge number of property units including apartments in skyscrapers, as well as villas and townhouses in developed communities. In this article, we will talk about the main reasons why Abu Dhabi is an ideal place to live or invest in and why it attracts expats from all over the world.
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Only 9% of the Emirati residents were actually born here, which means that both Abu Dhabi and other emirates in the country has become home to millions of foreigners. The UAE is a country with multiple nations and cultures. That means that anyone can experience cuisines from all over the world, visit unique festivals and get acquainted with various traditions and languages all in the same place. Abu Dhabi opens lots of new possibilities to expats, enabling them to gain experience and work with people from many different backgrounds.
There is no time for boredom in Abu Dhabi, as one can relax on beaches of the Corniche after a tiring week and the amount of leisure activities on offer will amaze anyone. Abu Dhabi holds several international events including the Formula One Abu Dhabi Grand Prix and the Volvo Ocean Race, as well as fine art exhibitions, especially in Louvre Abu Dhabi. The countless opportunities to visit entertainment venues is one of the reasons why the Emirates has been the happiest Arab country for the sixth year in a row in 2020.
The government of the emirate cares about the comfort of its residents and tourists. Abu Dhabi is high up in the rankings when it concerns the quality of life. It’s also considered one of the best places in the world in terms of security. Abu Dhabi also boasts extremely high standards of education and healthcare.
Here is a list of several of the city’s achievements:
Abu Dhabi can be easily reached not only from other Middle Eastern countries but also from Africa, South Asia and Europe too. One of the main reasons why people choose to live and work in the Emirates is its climate. It’s almost always sunny and warm (hot, to be precise) here. The brightest month is June when the sun shines almost 13 hours a day. There are about 2,000 sunny hours annually. The hottest month is August with an average temperature of 36°C (96°F) and the coldest one is January with an average of 18°C (64°F).
The convenient location together with the developing economy makes Abu Dhabi one of the most attractive destinations in the world. Here is the main information concerning the location of Abu Dhabi and its connectivity to other countries:
Abu Dhabi gives a unique opportunity to get to any country you desire in a short period of time. For instance, India, Nepal, Sri Lanka, Turkey, Greece, Ethiopia and many more countries can be reached in just 4 hours by plane. While some just visit the city, others from these countries come to Abu Dhabi to work and do progress in their careers, whilst also enabling them to visit close ones as often as possible.
Any city and country that is currently developing needs the help of local talent. That’s why Abu Dhabi is empowering itself and others by inviting international talents, especially those who are experts in engineering, technology, mathematics and business. Some of them can even get UAE citizenship.
Another reason that makes the emirate stronger is that it provides its citizens withworld-class education. And Abu Dhabi’s educational institutions are the right place to find new talents and develop them. World-class universities including Khalifa University, New York University Abu Dhabi, Sorbonne University Abu Dhabi and INSEAD Business School can be found in the emirate. The Mohamed bin Zayed University of Artificial Intelligence, established in 2019, is a step towards the United Arab Emirates strategy for Artificial Intelligence 2031.
The developing of technologies leads to improving the government services which makes the life of residents and visitors more comfortable and practical. One such example is Hub71, a tech community with vibrant offices in the heart of Abu Dhabi, that offer startups the opportunity to develop, and even provide employees with health insurance. The Emirates was the first country on a federal level that appointed a Minister of Artificial Intelligence (AI) in 2017. Moreover, it has become the first Arab country who sent an astronaut to the International Space Station.
The emirate satisfies the needs of both business individuals and ordinary residents. Due to the strategic location, they have unlimited access to other international markets and travel destinations. The infrastructure corresponds to modern realities and is extremely well-maintained.
Among the most important hubs are:
What makes people think about moving to the Emirates is the convenient working hours. Thus, those living in Abu Dhabi work up to 8 hours a day and 48 hours per week. Working hours are regulated by the UAE Labour Law. The working time is reduced by 2 hours daily during Ramadan and leave is from 22 to 30 days annually.
Those moving to Abu Dhabi have an opportunity to save as the Emirates government offers a tax-free income. It’s one of the reasons why professionals in different spheres go to live and work in Abu Dhabi. Salaries are quite high and additional financial incentives are proposed to employees. The number of new working places is always increasing which leads to the growth and development of the emirate.
Abu Dhabi provides world-class business amenities. What foreigners like most about Abu Dhabi are its free zones and 0% tax rates. The launch of new programmes suggesting long-term residency visas, dual licenses, as well as opportunities to obtain real estate in freehold zones is having a positive influence on the emirate’s economy.
Among the benefits of doing business in Abu Dhabi are:
Abu Dhabi attracts investors who see the development of the emirate’s economy and business. The emirate has one of the most increasing markets in the world. Moreover, the possibility to get here from the majority of other countries in less than an 8-hour flight makes this place ideal for business professionals and investors. Abu Dhabi offers opportunities in different sectors from FinTech to Ecotourism. Therefore, anyone can find a good investment opportunity and a startup to open here.
Being the capital of the UAE, Abu Dhabi is the center of political, economical and industrial activities within the country. The country’s GDP is supposed to reach USD 400 billion by the end of 2021, and it’s going to trend at about USD 425 billion in 2022. The opportunity to obtain a high stable income attracts professionals from all over the world.
Here is some of the benefits of living in Abu Dhabi:
Foreigners can purchase commercial and residential properties in certain areas. If you are going to do business in Abu Dhabi, you might be interested in obtaining commercial properties such as office spaces, coworking spaces, warehouses, shops, restaurants, etc. If you are thinking of moving to Abu Dhabi with children, try to remember the best areas and communities for families. Khalifa City, Mohammed Bin Zayed City (MBZ City) and Al Khalidiya are among them.
If you are interested in obtaining properties in Abu Dhabi, our real estate experts are ready to help you. They will assist you in choosing a property based on your desires and budget, and help solve any transaction issues to help obtain a mortgage.
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