“It is a big win for consumers who are now, more than ever, spoilt for choice,” said Mesab’s Tariq Allan. “Property prices are now below construction costs so, regardless of what happens in 2019, buying in this market represents fabulous intrinsic value.”

At Cityscape Abu Dhabi, held under the patronage of His Highness Sheikh Mohamed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, Mesab is planning to launch a new residential property – the 35-storey Park View – Al Reem, featuring 128 two and three-bedroomed apartments and duplexes. The company is targeting buyers of all nationalities with Allan saying recent government incentives, including the 10-year residency visa and five-year retiree visa have revitalised the market.

“Government initiatives and regulations have led to greater opportunity for investors,” explained IMKAN’s Walid El Hindi. “These include 10-year residency visas, five-year retiree visas and the decision to allow 100 per cent foreign ownership of onshore companies. Market dynamics have shown us that investors looking towards Abu Dhabi have strong liquidity and retain interest in long-term investments. This complements IMKAN's long-term outlook, as our projects span 10-15 years, meaning we have a positive perspective for the future of Abu Dhabi's real estate market. Another boost for the market is the careful planning the government has in place to turn the city into a cultural hub.