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Abu Dhabi Real Estate Centre to propel sector’s sustainability - Mohamed Ali Al Shorafa

Abu Dhabi Real Estate Centre to propel sector’s sustainability - Mohamed Ali Al Shorafa
22 Nov 2023 08:39

Hala Al Khayyat (Abu Dhabi)

The launch of the Abu Dhabi Real Estate Centre is an embodiment of the emirate’s ambition to enhance the real estate sector’s contribution to economic growth, said His Excellency Mohamed Ali Al Shorafa, Chairman of the Department of Municipalities and Transport.

The centre will be responsible for promoting the sector through an integrated mechanism for all real estate services, enhancing operational efficiency and promoting the sector’s digital transformation, Al Shorafa said in statements to Aletihad.

Al Shorafa explained that the center’s launch is based on the following four pillars: an integrated real estate strategy, a comprehensive policy for real estate promotion, a comprehensive system for managing real estate transactions, and another comprehensive system for real estate regulation. This ensures that the interests of all stakeholders, such as owners, investors, real estate developers, financing institutions, and others, are maintained.  

“The centre reflects our commitment to advancing the sector to be one of the drivers of Abu Dhabi’s success as a preferred destination for living, working, and investing, and comes as part of efforts to diversify Abu Dhabi’s economy,” he said. 

The centre will play an important role in elevating Abu Dhabi’s regional and international status as an attractive investment destination, preserving the real estate sector’s growth rates and ensuring its long-term sustainability, Al Shorafa added.

His Excellency emphasised the importance of the Emirate’s flexible legislative environment and noted that developments in the investment environment and economic transformations require a strong legislative infrastructure characterised by flexibility.

“Ultimately, the goal of any legislation is to provide an attractive investment environment capable of protecting the interests of partners, enhancing transparency and operational efficiency, and facilitating all related procedures,” he added.

The real estate sector is growing steadily and continuously, a clear indication of its exceptional attractiveness and Abu Dhabi Emirate’s ability to attract foreign direct investments, reflecting the confidence investors place in the emirate’s economy, Al Shorafa said.

The centre will contribute to enhancing regulation efficiency, ensuring that owners’ and investors’ rights are preserved, which will consolidate the Emirate’s position as a leading real estate investment destination, he added.

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