To Rent Apartments in Abu Dhabi Has To Do With Many Reasons

To Rent Apartments in Abu Dhabi Has To Do With Many Reasons The first and the foremost question is why one should rent apartments in Abu Dhabi? The first and the obvious answer to this question is Abu Dhabi is one of the richest Emirates of seven Emirates of United Arab Emirates. Besides this reason, there are several reasons why renting apartments especially Al Reef apartments is desirable. To give an example of Al Reef apartments, at one of its buildings, it has 1,700 apartments in a mixture of 1, 2 and 3 bedroom units.

These apartments are of 64 to 125 square meters and offer luxury and other amenities such as outdoor balconies or private ground floor gardens courtyards. Other amenities in the vicinity are consisted of resort-style common facilities, including a residents-only swimming pool, modern gymnasium, children’s play areas, and outgoing private gardens. The vicinity will also include luxury hotel, spacious public parking etc.

Now, being the richest of the Emirates, Abu Dhabi naturally has one of the best infrastructure of the world as astonishing landscapes are the links to these lively communities. These communities provide areas for recreation and relaxation, and walkways to community facilities. Apart from all these facilities, when you rent apartments in Abu Dhabi especially Al Reef apartments, it certainly offers something for everyone i.e., swimming pools, children’s playgrounds, barbecue areas and landscaped playing fields, the shared common shopping, recreational, commercial and social facilities in each community.

Another factor that contributes to the popularity of Abu Dhabi real estate is that of the real estate bust in Dubai in 2007. The disillusionment with Dubai automatically benefited this pearl of the Persian Gulf which sits at the tip of a T-shaped island and stretching beyond the Persian Gulf. During this real estate bust, expatriates and tourists were naturally attracted towards Abu Dhabi. The economic reforms done by the Government attracted the visitors as the laws became extremely flexible and accommodating. The crucial aspects of flexible laws were no tax, easier clauses regarding buying, renting and reselling of the property.

This made renting of apartments in Abu Dhabi easier and attractive.

As per the data of Abu Dhabi Chamber of Commerce and Industry and Madar Research, the emirate has an average GDP growth of 25% per year since 2002 with the years 2004 and 2005 growing by an estimated 31% and 38%, respectively. The data says that the stable rather than conservative GDP growth forecast of 12.3 % per year over the next four years was expected to further bring the emirate’s total output to $159 billion by 2010. In such a scenario, sensible investors, expatriates, and visitors are tempted to rent apartments in Abu Dhabi. The private sector too is emerging and contributing about 17% to the GDP in the past year.

Such contribution is the factor that fulfills the emirate’s vision to successfully diversify its economy and attract foreign investments.

The major objective for attracting foreign investment is not for capital but for knowledge and technologytransfer. Though, healthy and stable cash flow is one of the reasons to rent apartments in Abu Dhabi especially Al Reef apartments, there is one more reason why one should rent apartments in Abu Dhbai.

That is the riches of the Emirates has not incurred any direct debt in over a decade, and following this the rating agencies like Moody's Investors Service were tempted to give it a very high credit standing rate.