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Abu Dhabi, UAETuesday 19 June 2018

Low-income families and bachelors to benefit from cheaper housing in Abu Dhabi

The Department of Municipal Affairs and Transport said the scheme will provide high-quality and affordable accommodations for low-income groups at rents ranging from Dh917 to Dh1,563 per month.

The initiative also offers an investment opportunity for commercial property developers in the city to construct new buildings or convert their existing properties into residential units for low-income residents. Silvia Razgova / The National
The initiative also offers an investment opportunity for commercial property developers in the city to construct new buildings or convert their existing properties into residential units for low-income residents. Silvia Razgova / The National

Low-income families and bachelors in Abu Dhabi will have access to cheaper monthly rents under an initiative from Abu Dhabi Municipality announced on Saturday.

The Department of Municipal Affairs and Transport said the scheme will provide high-quality and affordable accommodations for low-income groups at rents ranging from Dh917 to Dh1,563 per month.

The initiative also offers an investment opportunity for commercial property developers in the city to construct new buildings or convert their existing properties into residential units for low-income residents.

“This initiative aims to provide proper and legal options of residential units befitting the financial means of low-income individuals and at the same time open an investment opportunity to owners of commercial properties in Abu Dhabi Emirate.

The initiative is in line with the vision of Abu Dhabi Government aimed to provide all means of decent and stable living for all spectrums of the community. It will also offer support to fixed income groups by availing them accommodation at affordable rents that commensurate with their annual income levels,” said Musabbah Al Murar, Acting General Manager of Abu Dhabi City Municipality.

The housing scheme is expected to eliminate congested bachelors’ accommodation with ADM targeting two categories of occupants.

The first is low-income segment earning a monthly income of Dh4,000 to Dh6,000 whose rents will range between Dh1,400 and Dh2,100 per month.

The second category is bachelors with fixed incomes. Those earning Dh2,00 to Dh4,000 a month will pay rents from Dh700 to Dh1,400 per month.

The rental value is calculated at a rate not exceeding 35 per cent of the individual’s total income; with consideration given to the number of occupants, according to statement from ADM.