Abu Dhabi – Mubasher: UAE President and ruler of Abu Dhabi Sheikh Khalifa bin Zayed Al Nahyan has issued a law amending some provisions of the real estate law in Abu Dhabi. 

The new amended law allows UAE citizens, including natural or legal persons, and public holding companies in which non-Emiratis own no more than 49% as well as any person to whom a decision is issued by the Abu Dhabi crown prince or the president of the executive council to own properties in the emirate.

In addition, foreigners and firms owned by non-Emiratis will be allowed to own and acquire all the rights of real estate properties within their investment zones.

The new law also allows whoever has a usufruct or a “Musataha” right for over 10 years to act on that right, including mortgage rights, without the owner’s permission.

However, the landlord can only mortgage the property after the approval of the usufruct holder.