In a significant move towards enhancing living standards, Abu Dhabi has disclosed details of a groundbreaking $300 million housing project in the city. This venture marks the latest allocation by the Abu Dhabi Housing Authority, bringing its total spending to an impressive $38 billion since its inception.
Under the auspices of the President of the UAE, Sheikh Mohamed bin Zayed Al Nahyan, Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, formally inaugurated the Al Wathba housing project. Part of the Emirati Neighbourhood initiative, this project delivers 347 new homes to citizens, representing a substantial investment of AED 1.1 billion ($299.4 million).
Sheikh Khaled delved into the intricacies of the project, developed in adherence to the highest international standards. The sustainable design of these homes, tailored to meet citizens’ needs and enhance their overall well-being and quality of life, was a focal point of the discussion.
Highlighting the leadership’s commitment to providing high-quality housing for Emiratis in Abu Dhabi, Sheikh Khaled underscored the significance of cultivating a secure and stable environment for citizens. He emphasized how the housing project aligns with citizens’ needs, ensuring their stability, growth, and playing a pivotal role in the ongoing development of the emirate.
Mohammed Ali Al Shorafa, Chairman of the Department of Municipalities and Transport and Chairman of Abu Dhabi Housing Authority, commented on the Al Wathba housing project, stating, “This initiative stands as a cornerstone in guaranteeing citizens’ access to quality housing, fostering a secure and stable social environment, and actively supporting the ongoing development and growth of the emirate.”
Spanning 875,000 sq m, the project incorporates various community facilities, including four commercial complexes and 64 shops. Additionally, the development features 15 parks and four mosques with a combined capacity for 1,725 people.
Post-inauguration, Sheikh Khaled witnessed the signing of a public-private partnership agreement aimed at developing community facilities within the project.
Since its establishment, the Abu Dhabi Housing Authority has delivered more than 39,000 residential plots and constructed over 16,000 new homes. It has sanctioned over 44,000 housing loans and granted housing loan exemptions for 4,000 beneficiaries, amounting to a total value of AED 141 billion ($38.4 billion) in housing benefits.
This initiative reflects Abu Dhabi’s unwavering commitment to fostering citizens’ well-being, creating secure living environments, and actively contributing to the continual advancement of the emirate.