Up to 10,000 new housing units expected in Abu Dhabi this year

24/02/2010 -
Up to 10,000 new housing units expected in Abu Dhabi this year
Posted by Neil King

There could be up to 10,000 new housing units ready for occupancy in Abu Dhabi this year, it has been suggested.

Gurjit Singh, chief operating officer of Sarouh Real Estate, said that 90 per cent of the new homes would be in the category of medium to upscale apartments, Khaleej Times reported.

The new apartments would be located in free hold investment zones, where foreign buyers can invest in property, as well as on the main island developments like Capital Business District and Khalifa City.

In addition, Mathew Green of Dubai-based property consultancy CB Richard Ellis Limited, said that during the coming months there will be handovers of a couple of thousand units to property owners in Al Reef and Marina Square.

Last week, delegates at the Cityscape Connect Business Breakfast briefing claimed that Abu Dhabi has the potential to lead a regional recovery in the property and real estate market in the medium to long term.
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