Greater protection for buyers in Abu Dhabi

Investors looking to buy property in Abu Dhabi could be offered added protection from next year after a series of draft laws were announced.

Five rules aimed at regulating the real estate sector have been considered by the emirate's Executive Council, according to Emirates Business, with plans to introduce them in 2009.

The rules cover mortgages, credit, registration, off-plan sales and brokerage.

"These laws will result in an integrated system of real estate legislation in Abu Dhabi and will control all details of property ownership and organisation," said Ahmed Shareed, under-secretary of the Executive Council.

He also defended the department's decision to privatise public projects and services in Abu Dhabi, claiming that the action had seen an improvement in services and reduction in expenses.

A number of buyers could find themselves undertaking real estate transactions under the new laws in the future, after a report by AME Info last month revealed moves by developers to alter their strategies in order provide more affordable homes.