Abu Dhabi is the second popular city after Dubai in UAE and largest of seven emirates, located on a T-Shaped island projected into the Persian Gulf. It was initially known as Milh, means salt due to salty water present around the Persian Gulf.
Since 1793, Abu Dhabi was ruled by Al Nahyan family members, one of the six ruling families in UAE. In the 19th century, Pearl trading and trucial coast were the sources of income in Abu Dhabi. However, with the discovery of oil refineries in 1930’s, pearl trading was declined. And currently, it is recognized as world’s largest oil producer, possessing 90 percent of UAE’s oil reserves.
In 1967, under the guidance of Japanese Architect Dr. Takahashi, his highness Sheikh Zayed planned to develop the city with high and medium rise buildings, skyscrapers – Etihad Towers, ADIA Towers, National Bank of Abu Dhabi, Hilton Hotel, and Emirates Palace. One of the main attractions of Abu Dhabi is Sheikh Zayed Grand Mosque, established as a place for prayer during Friday gatherings and festivals and marked as the center of learning.
With increasing demands in real estate sector, Abu Dhabi government is considering focusing on properties market and reducing dependency on oil refineries. Huge demand for real estate properties is currently one of the main economic performances of Abu Dhabi. UAE government has taken steps in structuring country’s infrastructure to develop it as an international global hub. One of the primary requirements for expanding hub is to provide accommodations for developers, investors, and buyers. To fulfill the necessities, investments on real estate market increased rapidly.
Noticing the progress of Abu Dhabi since the 20th century, developers from all over the world started empowering in the construction of properties and buyers were attracted towards renting and purchasing of these properties. Investment on properties in Abu Dhabi is a simple and quick process due to mortgages provided by banks for international buyers. Currently, Government of Abu Dhabi has planned to expand infrastructure, drawing world’s attention towards, by providing more jobs and also merely offering properties for relocating inhabitants.
Oil and gas production were the main resources of the economy until the 19th century. With increasing demand for properties, real estate and tourism became the main source of economy for Abu Dhabi. The As large sum of outsiders are relocating to Abu Dhabi with the intension of investing; to fulfill the demand, properties are being constructed and many new projects have been approved for further construction. Both residential and commercial properties are available for people relocating here.
To increase the economy, the government of Abu Dhabi is providing opportunities to investors and developers from all over the world to investment on properties and permitted production of new projects. With increasing construction of residential and commercial buildings, many real estate property portals have come up to make ease of displaying those properties to buyers, thus bridging the communication between developers and buyers. Planetbuyers, one of the real estate company in Abu Dhabi, is leading real estate property portal, presenting an array of residential and commercial properties for rent and sale, that includes residential apartments, villas, townhouses, penthouses, commercial office space, shops, warehouses, buildings, plots, land, luxury properties for sale and rent in Abu Dhabi.