UAE President attends launch of AED106 billion housing project

President His Highness Sheikh Mohamed bin Zayed Al Nahyan has attended the launch of a new housing project across Abu Dhabi for UAE nationals, at a total cost of AED106 billion.

The 13 residential communities will provide more than 40,000 homes and residential plots complete with a range of essential services, community facilities and recreational spaces.

It will include commercial centres, mosques, schools, public parks, green areas and sports facilities, all carefully planned to meet sustainability goals, respond to citizens’ needs and foster family stability and wellbeing across Abu Dhabi.

According to the agreements - signed by Abu Dhabi Housing Authority and Abu Dhabi Projects and Infrastructure Centre (ADPIC) with several real estate firms - AED94 billion will go towards constructing 25,244 housing units over the next five years, while AED12 billion will be spent on developing approximately 14,876 residential plots.

Sheikh Mohamed affirmed that the launch of these integrated projects highlight the housing sector’s status as a national priority, aimed at enhancing citizens’ quality of life and ensuring the comfort and wellbeing of Emirati families.

These projects add to the developments currently being carried out by the Abu Dhabi Housing Authority, including the West Baniyas Housing Project and the Yas Canal Housing Project. With these additions, the total number of new homes and residential plots under development by the Authority will reach around 45,000, all scheduled for completion by 2029.

It will include the development of six fully integrated residential communities in various areas of Abu Dhabi city, providing a total of 14,444 housing units at a combined cost of AED 55.38 billion, which will be delivered by Aldar Properties, Bloom Holding and Modon Properties.

In addition, five further agreements were announced for the development of five residential communities in Al Ain, offering 10,480 housing units at a total cost of AED 36.95 billion. These will be carried out in partnership with Aldar Properties, Bloom Holding, Lead Development Real Estate and IMKAN Properties. In Al Dhafra Region, Aldar Properties will undertake two housing projects in Al Sila and Madinat Zayed, providing 320 homes at a total cost of AED 1.59 billion.