Abu Dhabi-based Aldar Properties received a master developer license from the Abu Dhabi Department of Municipal Affairs on 15 March 2016.
The license comes under the provisions of the new real estate law which came into effect on 1 January 2016.
Talal Al Dhiyebi, chief development officer at Aldar, said: “We believe it will bring a high degree of predictability and transparency to the market and thereby increase the attractiveness of the market to existing and a new generation of customers.”
Aldar is the first developer licensed by the Department of Municipal Affairs under the new regulations.
The new real estate law provides enhanced protections for customers of off-plan developments and enshrines the rights of owners and residents in existing communities.