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Abu Dhabi Launches $953 Million Residential Project for UAE Citizens

Abu Dhabi Launches $953 Million Residential Project for UAE Citizens

Abu Dhabi has unveiled an ambitious Dh3.5 billion ($953 million) initiative aimed at providing 1,146 villas for UAE citizens. Approved by Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, the Yas Canal project is set to transform Al Raha Beach and is slated for completion by the end of 2027.

The project, overseen by the Abu Dhabi Housing Authority in collaboration with the Abu Dhabi Centre for Projects and Infrastructure and the ICT Real Estate Development Company, underscores the emirate’s commitment to offering high-quality housing to meet the needs of Emirati families.

Sheikh Khaled emphasized that the residential endeavor reflects Abu Dhabi’s dedication to ensuring the well-being of its citizens and fostering social stability to support the emirate’s continued development.

Spanning an area of 1.8 square kilometers, the Yas Canal development will comprise villas, three mosques, a school, a gym, and a range of amenities and shops across one hectare of land. The project will offer three to six-bedroom villas, varying in size from 350 to 525 square meters, on plots measuring from 600 to 780 square meters.

Sales of units will be managed in partnership with the ADHA, while ICT will handle the project’s design, construction, and infrastructure development.

This initiative aligns with Abu Dhabi’s strategy to utilize public-private partnerships to provide Emiratis with suitable housing, a plan that gained traction with Sheikh Khaled’s approval of a Dh85.4 billion community master plan last year, aiming to build 76,000 homes and residential plots for citizens over the next five years.

In addition to the Yas Canal project, the Abu Dhabi government has been proactive in supporting Emiratis with housing loans, granting over 1,800 citizens loans worth a total of Dh3.1 billion last June.

Through the Yas Canal residential project, UAE citizens will have access to housing loans facilitated by the ADHA, further enhancing accessibility to quality housing options for Emirati families.

As the UAE’s property market continues to demonstrate resilience and growth momentum, initiatives like the Yas Canal development underscore the government’s commitment to addressing the housing needs of its citizens and supporting sustainable urban development.

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