UAE expat and retiring in Abu Dhabi? Real estate investment is key
The new freehold law announced at Cityscape Abu Dhabi in April essentially opens the capital to a whole new segment of buyers and investors in real estate, including those in search of a retirement home. According to this law, foreigners can now own property in specified areas without time limitations, just like UAE nationals.
“Looking at Abu Dhabi as a place to retire makes sense since it is relatively laid-back with a relaxed pace of life and has a cultural touch to it,” says Lynnette Abad, director of research and data at the Property Finder Group.
“It would be interesting to see the outcome of the feasibility studies for retirement communities in Abu Dhabi, such as the very popular Sun City model in the USA. These are master-planned communities for age 55 and above, with all the facilities and amenities one would want when they retire, including a huge social aspect to the community.”