'More affordable' developments planned for Abu Dhabi

There was good news for investors seeking property in Abu Dhabi after a report revealed moves by developers to change their strategies in order to suit buyers.

According to AME Info, real estate firms are shifting their focus away from the high-end property market as they seek to offer more affordable units for middle income investors.

The market has frozen recently, with United Arab Emirates (UAE) lender Amlak calling a temporary halt to all mortgage lending this week.

As a result, many developers are adjusting the specifications of forthcoming projects in order to suit end-users rather than speculators and luxury investors.

This would also mean more properties being targeted towards the rental market rather than sales, the report suggested, as firms look to switch focus in order to overcome the recent slowdown.

The news comes after Adel Lootah, executive director of the Dubai Property Sector, told The National this week that speculators were now gone from the market, with only "real buyers" remaining.