Chaired by His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, the Executive Council was established in 1974. The Council is the highest leadership authority that assists the ruler with legal, social and economic developments. Since its inception, the council has played a major role in Abu Dhabi’s development and real estate is no exception. The innovative decision-making process and investment-friendly policies have significantly benefited the sector.
Let’s take a closer look at the Abu Dhabi Executive Council and its role in the development of the real estate sector.
Role of Executive Council Abu Dhabi
The Executive Council of Abu Dhabi oversees multiple aspects of the real estate industry such as infrastructure development and regulatory frameworks. Moreover, the Council drafts policies that benefit all the stakeholders equally. Here are some major roles played by the Executive Council in real estate.
Regulatory Framework
The Abu Dhabi Executive Council is responsible for establishing and enforcing a regulatory framework for the property market. Ranging from property ownership transfer in Abu Dhabi to lease agreements, the Council caters to all of it.
The Council aims to create a transparent and sustainable real estate transaction process for the convenience of all the stakeholders.
Infrastructure Development
Initiating and monitoring infrastructure development projects is another major role of the Council. That said, construction of new roads, maintaining public amenities and expanding transportation networks, the Council aids in all the processes.
Urban Planning
Alongside infrastructure development, the Council is also responsible for urban planning. Through strategic master plans and zoning ordinances, the council determines land use patterns. This pertains to freehold property areas, density regulations and development guidelines.
Public Private Partnerships
The Executive Council takes multiple initiatives to build investors’ confidence by implementing policies that create convenience for all. Moreover, the council also initiates public-private partnerships which contributes to the overall growth of the real estate sector. For instance, the Council has recently approved a framework between the Abu Dhabi government and Aldar Properties, one of the leading real estate developers in Abu Dhabi.
FAQs
Who is the head of the Abu Dhabi Executive Council?
His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan is the head of the Abu Dhabi Executive Council.
When was the Abu Dhabi Executive Council Established?
The Abu Dhabi Executive Council was established in 1974.
This was all about the Abu Dhabi Executive Council and its role in the real estate sector. Investment-friendly policies and the legal framework of the Council aid in creating a transparent and convenient transaction process. It is one of the major reasons that contributes to the upward trajectory of the Abu Dhabi real estate market. If you are also interested in availing of this growing market, browse through these properties for sale in Abu Dhabi and invest in the real estate.
Besides, if you are planning to opt for an off-plan project, here are some pros and cons of investing in Abu Dhabi’s off-plan property that you must be aware of.
Stay tuned to dubizzle’s property blog for more information on the property transaction process.
