Announcement of thousands of new residences will boost the housing sector in Abu Dhabi.
Abu Dhabi to get 12,500 new homes
ABU DHABI // The housing sector in Abu Dhabi received a boost this week with the announcement that thousands of new residences are planned for Emiratis across the emirate.
Nine projects resulting in 12,500 new homes are being implemented, the Abu Dhabi Executive Council said.
Included are 786 homes and plots of land in Al Ain and the Western Region, with Musanada, the building and general services arm of the Abu Dhabi Government, tasked with appointing a contractor.
Yesterday, Musanada's chief executive, Mohamed Khalifa Al Fahed Al Mehairi, spoke of the company's commitment to the Government's initiatives.
"These housing and infrastructure projects aim to provide better living standards for UAE nationals and Musanada is committed to supporting the Abu Dhabi Government's initiatives," he said.
These efforts were in support of Abu Dhabi Vision 2030, and Musanada planned to execute "the Government's projects of creating world-class residential complexes, in compliance to the best international standards".
The project includes the construction of 71 villas in Mezyed and 39 in Umm Ghafah, the council announced.
In Bida Al Mutawa, the project includes 60 homes and a mosque, as well as other infrastructure facilities such as water, electricity and sewerage networks.
Musanada will appoint a contractor and a consultant to carry out the second stage of infrastructure works in Ne'meh housing project, which is 25 kilometres from Al Ain city centre, and includes the construction of roads, water, electricity and sewerage networks for 616 plots of land, the council said.
This week's announcement included news that Dh3 billion in housing loans will be distributed to 1,500 citizens in the emirate, a move that has been welcomed.
Mohammed Al Hammadi, 35, said he felt "very happy".
He said he had been given some land by the Government and was waiting for his loan to start the building work.
"The waiting line will be shorter and it will refresh the infrastructure industry," he said.
He referred to the investment in housing loans as a "very smart move" by the Government which, he said, is "constantly looking after their local people".
"This has a dual impact. It will enhance the economy of Abu Dhabi and at the same time will enhance the lifestyle, or the welfare, of locals."
The announcement was also well received by Mohammed Al Mehairi, 23.
"It's really important for the citizens here because it will help them to stay in appropriate houses. Some of them would not be able to pay for the houses without the allowance."
As part of this week's announcement, Abu Dhabi Executive Council said it would be decided at a later stage which individuals would receive the loans, but it did reveal the breakdown across the emirate.
There will be 834 beneficiaries from Abu Dhabi, 618 from Al Ain and 48 from the Western Region.
Other housing projects being implemented across the emirate are at various stages, with some expected to be completed this year.
Saeed Al Jabri, the chief executive of Manazel Real Estate, said the number of Emiratis applying to his company to build a home in Abu Dhabi was on the rise.
The developer came up with a strategy to help Emiratis build their own home, on land given to them by the Government, without running into debt, he said.
This can be achieved by building homes for less than Dh2m, the amount given by the Government to construct a home on supplied land. "We believe that we safeguard UAE nationals from getting into more debt," he added.