A new database with comprehensive information on real estate developments in the capital city of UAE was launched by the Urban Planning Council (UPC) specifically to enhance land management and planning efforts.
This fresh idea will make an improvement on demand and supply mix by encouraging developers to impart in better detailed information on their concluded and current projects.
A convention was held and was attended by 19 major land developers who signed a pledge to share more details about their projects and help the UPC’s initiative to take the accuracy of data about demand and supply up to 95 per cent.
Revealing further details about the planned database, it will show information regarding commercial, retail, hospitality and residential units. A usual database record from a real estate company will comprise of facts such as land area scope, area of the plot and cost, start and conclusion date, construction condition. Further specifications will then be requested about how these projects are categorized as for residential, commercial and retail purposes.
Furthermore, UPC also affirmed that the emirate would push through with its planned strategic real estate developments and there won’t be any cancellations of the strategic projects that the government has announced.
For the time being, the emirate will witness the greatest real estate growth in its borders, particularly Zayed City. It was said that as of the moment there are no strategies to set up residential communities in the area between Abu Dhabi and other emirates.
Development will still be concentrated in neighboring existing communities. Large amount of investments will be required to build completely new neighborhoods.
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