Abu Dhabi will allow foreigners to own the land under their homes and offices for the first time as the emirate looks for ways to bolster its stalled property market.
The oil-rich sheikhdom will let individuals and companies enter so-called freehold agreements across 30 designated zones after previously restricting them to a 99-year lease of the land. Abu Dhabi resisted the step long after neighboring Dubai decided to allow such purchases in 2002.
