Dh22b housing project coming up

On October 11, the Abu Dhabi government announced a Dh22 billion public housing project in partnership with three leading property developers who themselves will invest several billion dirhams, according to a recent Gulf News report.

Under the multi-phased project, 31,000 urban residential units will be built according to a master plan across Abu Dhabi and Al Ain over five years.

Residential units

According to Abdullah Balhaif Al Nuami, a member of the Committee for Residential Development (CRD), the government will build 18,000 residential units in specified areas with a total investment of Dh22 billion over the next five years and three property companies will build another 13,000 units elsewhere in the city.

The government is funding the 18,000 residential villas and the other projects, estimated at about Dh2 billion, are to be funded by the respective developers.