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Abu Dhabi launches $953m housing project for citizens

By Pramod Kumar
Cuts in service and community charges for Abu Dhabi property owners resulted in year-on-year savings of AED39.7m Wam
The villa development on Al Raha Beach is slated for completion in the last quarter of 2027

The Abu Dhabi government will build an AED3.5 billion ($953.08 million) residential project through a public-private partnership in the emirate to meet the housing needs of its citizens.

The project, comprising 1,146 residential villas on Al Raha Beach, was launched by Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Abu Dhabi Media Office said in a statement.

State-backed Abu Dhabi Housing Authority will oversee the project in cooperation with another government entity, Abu Dhabi Centre for Projects and Infrastructure.

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Privately-owned ICT Real Estate Development Company will coordinate with government entities on the project’s design, construction, and infrastructure.

The villa development is slated for completion in the last quarter of 2027.

Sheikh Khaled said the project will offer high-quality housing tailored to meet the needs of Emirati families in Abu Dhabi, ensuring their overall well-being and quality of life.

The Yas Canal residential project covers 1.8 sq km and includes villas, three mosques, a school, a gym, and a 10,000 sq m retail area.

The project will include 350 to 525 sq m three- to six-bedroom villas on plot sizes ranging between 600 and 780 sq m.

Abu Dhabi Housing Authority will provide housing loans to UAE citizens. No other details on the mortgage facility were given.

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