$299 million residential project unveiled in Abu Dhabi
$299 million residential project unveiled in Abu Dhabi
As part of the government's initiative to provide citizens with high-quality housing, Abu Dhabi has unveiled a major housing development that will give Emiratis more than 300 new homes. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, inaugurated the AED 1.1 billion ($299 million) Al Wathba housing project, which consists of 347 homes. According to the statement, the project was developed “to the highest international standards.” It represents a sustainable design aimed at improving the overall well-being and quality of life of citizens.
Since its inception, the Abu Dhabi Housing Authority has provided recipients with more than 39,000 residential plots and 16,000 new homes. To date, the total amount of housing benefits provided has been AED 141 billion (USD 38.4 billion). The latest housing stock covers an area of 875,000 square meters and includes a range of public amenities, including 64 shops and four commercial complexes. In addition, the complex has four mosques with a capacity of 1,725 people and fifteen parks.
According to Mohammed Ali Al Shorafa, Chairman of the Department of Municipalities and Transport and Chairman of the Abu Dhabi Housing Authority, the Al Wathba Housing Project signifies the commitment of the Abu Dhabi Housing Authority to implement the instructions of management. According to him, this initiative is the cornerstone in ensuring citizens' access to quality housing.
Since its inception, Abu Dhabi Housing Authority has issued over 44,000 housing loans and helped 4,000 recipients obtain housing loan benefits. Asteco reports that 1,000 residential units were delivered in the third quarter of the year across several locations in the Abu Dhabi property market.
