Mohammed Bin Rashid Housing Foundation unveils strategy to boost residential projects

New programme prioritises diversifying income sources and strengthening partnerships with private sector

Dubai's property market has continued its recovery from the Covid-19 pandemic, boosted by renewed interest from investors and buyers. Pawan Singh / The National

The Mohammed Bin Rashid Housing Foundation has unveiled its Innovative Investment Strategy that aims to boost the quality of life within its residential projects while promoting collaborations with the private sector.

The strategic objectives of the new investment plan include marketing the assets of the foundation, providing investment opportunities in residential complexes, diversifying investment fields and identifying new sources of income to achieve financial sustainability, the Dubai Government Media Office said in a statement on Thursday.

The strategy focuses on strengthening public and private partnerships to develop the housing sector.

At the Mohammed Bin Rashid Housing Foundation, “we are actively pursuing innovative strategies to diversify our investment portfolio and cultivate new avenues of income”, said Mohammed Al Shehi, assistant executive director of housing sector.

“These initiatives exemplify our commitment to enhancing the housing sector's sustainable growth while fostering a prosperous future for all community members,” he added.

“With our new investment strategy, we aspire to attract a wide array of partners, encompassing asset and facility management service providers, retailers, real estate developers and investors.”

Mohammed Bin Rashid Housing Foundation offers a diverse range of investment opportunities, including leasing commercial and investment spaces within residential projects, partnerships to enhance housing services and investment in its assets.

It has entered into three partnerships with the private sector to invest in its assets, and there are plans for five scheduled investment projects between 2023 and 2024, the Dubai Media Office statement said.

In addition, 18 potential investment areas have been identified within residential projects and four partnership models with the private sector have been approved to develop the housing system, it added.

The foundation has established an investment portal, enabling investors to explore available opportunities. This initiative aims to promote transparency and collaboration with the private sector.

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Dubai's property market has continued its recovery from the Covid-19 pandemic, boosted by renewed interest from investors and buyers.

The industry had a record-breaking year in 2022, registering 90,881 transactions, exceeding the previous high of 81,182 in 2009, property consultancy CBRE said in its recent Dubai Residential Market Snapshot report.

Dubai's property market also registered strong growth in the first quarter, with total transaction value up 80 per cent annually to Dh157 billion ($42.8 billion) in the first quarter of 2023, according to official data.

Total transactions rose 49 per cent to 38,715 during the three-month period.