The UAE capital intends to allow foreign investors wholly-owned holdings in investment projects

Abu Dhabi is considering allowing foreign investors to hold 100% of some investment projects, Suweidi, head of the Economic development Department in Abu Dhabi, the UAE's capital, reported to the media recently. Suweidi explained that the Abu Dhabi government is considering further opening of local investment projects to foreign investors. But he also said that the proportion of foreign investment in new projects depends on the level of demand in the local market.　　In addition, although foreign investors can occupy shares, they cannot obtain ownership of the land occupied by the project. The official also disclosed that Abu Dhabi is drawing up the relevant investment laws and regulations, which will be announced soon if they are finalized and approved by the government.　　The new rules will be more conducive to foreign investment to boost Abu Dhabi's economic development. Suweidi stressed that the Abu Dhabi Government is extremely concerned about the development of the local real estate industry, and is constantly overcoming the adverse effects of the financial crisis and vigorously supporting the industry to solve the problem of long-term supply shortage in the local housing market as soon as possible.