Dubai
The growth of the real estate sector in the United Arab Emirates requires the development of property laws because these legislative acts are important for attracting investors from foreign countries. These people and organizations attach much importance to the guarantees that the state offers. First of all, one should mention that foreign investors can own housing in the UAE; however, they can do it only in the so-called freehold or investment areas (Ibpus.com 2013, p. 20).
In turn, UAE nationals can own land in any part of the country. The foreign organizations can lease land for 99 years; yet, they cannot become full-time owners of the land (Ibpus.com 2013, p. 20). In Dubai, foreigners can buy lands only with the help of intermediaries such as Emaar Real Estate Company or Jumeira Projects. Moreover, non-UAE nationals can acquire housing only in investment areas such as Al Raha Beach (Oxford Business Group 2007, p. 237).
These are the main aspects that can be identified. It is possible to say that property laws have to serve two functions. They have to attract investors and protect the interests of the UAE citizens. One can argue that property laws contributed to the growth of Dubai since many investors are willing to purchase property in the UAE.
Additionally, the housing policies of Dubai are supposed to meet the needs of employees working there. Even though the culture, traditions and people’s beliefs are somewhat different, Dubai’s business world has made cultural borders almost non-existent. As it is always important to know the ethics and details of the nation where business is being carried out, Dubai has made the conduct very easy and laid back.
Abu Dhabi
If one speaks about Abu Dhabi, one should also mention that there are legal distinctions between the nationals of the UAE or Gulf Cooperation Council (Oxford Business Group, 2007, p. 237). There are several components of the housing policy that are implemented in these cities.
It is primarily aimed at increasing the attractiveness of Abu Dhabi to tourism and foreign investors. This is why governmental organizations carry out such projects as the construction of artificial islands that can be visited by tourists (Roza 2009, p. 54). They are supposed to meet the needs of businesses that can be based in the UAE and abroad. The current policies are supposed to improve the environmental sustainability of urban areas in the UAE.
This is why the government carries out such construction projects as Masdar City that should become environmentally sustainable. The housing policies in Abu Dahdi have to meet the needs of people who face economic difficulties (Emirati Housing Programs 2013). This argument is particularly relevant if one speaks about Abu Dhabi where governmental officials pay close attention to the problems faced by people who are in the urgent need of housing (Emirati Housing Programs 2013).
Overall, current policies contribute to the improvement of living conditions, but the environmental sustainability of these cities should be improved. On the whole, the property laws and housing policy are supposed to improve the living conditions of people and increase the economic viability of these urban areas. In particular, the government attempts to diversify the economic activities of people living in Dubai or Abu Dhabi. These are the main goals that should be attained.
References
Emirati Housing Programs 2013. Web.
Ibpus.com 2013, United Arab Emirates Land Ownership and Agriculture Laws Handbook, Int’l Business Publications, New York.
Oxford Business Group 2007, The Report: Abu Dhabi 2007, Oxford: Oxford Business Group.
Roza, G 2009, The Creation of Islands, The Rosen Publishing Group, New York.