Boosting Abu Dhabi's Real Estate Sector: The Launch of ADREC
Updated: Nov 17
In a significant move to propel the real estate sector in Abu Dhabi, the Department of Municipalities and Transport (DMT) has officially inaugurated the Abu Dhabi Real Estate Centre (ADREC). This dedicated body is set to revolutionize the real estate ecosystem, fostering growth, transparency, and support for residents, investors, real estate companies, and professionals.
ADREC's primary objective is to unify and fortify the real estate sector in Abu Dhabi by implementing a robust regulatory framework. This framework will not only augment the efficiency of real estate operations but also enhance oversight, ensuring a fair and transparent marketplace.
ADREC will leverage innovative tools and data to streamline processes and bolster operational efficiency through four key focus areas:
The centre will take on the responsibility of overseeing real estate development projects, collaborating closely with developers to ensure the timely and successful delivery of projects that enhance the quality of life for residents.
ADREC will actively engage in real estate conferences and events, both domestically and internationally. This strategic outreach aims to promote the Abu Dhabi real estate market, drawing further investment and attention from global stakeholders.
Mohamed Ali Al Shorafa, Chairman of DMT, expressed the profound vision behind ADREC, emphasizing a commitment to innovation, transparency, and empowerment. The goal is not only to foster growth in the real estate sector but also to enhance the quality of life for every resident and investor in the emirate.
Conclusion: The launch of ADREC marks a monumental milestone in the evolution of Abu Dhabi's real estate sector. With its comprehensive strategy focused on transparency, innovation, and collaboration, ADREC aims to elevate Abu Dhabi's market value, positioning it as an enticing destination for tourists, developers, residents, and investors.
[Source: Arabian Business]