The Jubail Island development, a mixed-used project between Yas Island and Saadiyat Island, spans 400 hectares. Courtesy Jubail Island Investment Company
The island, which is already home to the Jubail Mangrove Walk which opened in January this year, has awarded an infrastructure works contract to Gulf Contractors Company, GCC.
The project will feature six investment zone villages – Marafaa Al Jubail, Nad Al Dhabi, Seef Al Jubail, Ain Al Maha, Souk Al Jubail and Bed’a Al Jubail – with freehold property available for sale to both Emiratis and non-Emiratis under the emirate’s new freehold ownership rules enacted last year.
Previously, foreigners were only allowed to buy leasehold property, for a maximum of 99 years.
However, the government amended the rule in April 2019 through a royal decree, to support the capital’s real estate market, boost foreign direct investment and strengthen its economy.
Picture Courtesy – https://www.jubailisland.ae/