Abu Dhabi Crown Prince approves Dh85bn plan to build 76,000 homes

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi , has approved a Dh85.4bn community master plan to build 76,000 homes and residential plots for citizens in the capital over the next five years. Sheikh Khaled agreed to the housing budget on the directives of President Sheikh Mohamed. The long-term investment will support efforts to develop integrated community housing and neighbourhoods across the emirate. The major project will encompass community and recreational amenities, including the construction of a number of mosques, schools, public parks and green spaces. The wide-ranging scheme has been launched with the aim of bolstering the quality of life of Emiratis in Abu Dhabi. It is the latest housing project to be announced by Abu Dhabi's leadership to support citizens. Sheikh Khaled last week officially opened an expanded housing project in the emirate. At a cost of more than Dh1.92 billion, the Al Falah residential district spans 215 hectares and provides 899 new homes for citizens. It includes five mosques and five public parks, as well as allocated plots of land for commercial and community use. Each villa has five bedrooms, two majlis — one for men and one for women — dining and living rooms, and other facilities. The design of each villa reflects Emirati national identity, culture and heritage. Sheikh Khaled last month approved a Dh2.74 billion housing support plan for Emiratis in Abu Dhabi. The crucial assistance for 1,800 citizens is to be delivered under the directive of Sheikh Mohamed. Low-income retirees and families of deceased mortgage holders will not to be required to make housing loan repayments under the scheme. Housing loans will also be provided to eligible citizens as part of the plans. In March, the Sheikh Zayed Housing Programme approved Dh298.7 million in housing aid to support Emiratis. The funding includes applications for house construction, completion, purchase, maintenance and upgrades and is part of Sheikh Mohamed's decision last June that all pending applications received by the programme be completed, at a cost of Dh2.3 billion. It was announced at the time that all pending applications for funding assistance would be processed over the next five years. The programme was established in 1999 and provides interest-free loans repayable over a 25-year period to citizens with low incomes. Those most in need of support are given grants and non-reimbursable assistance. The Sheikh Zayed Housing Programme gives priority to orphans, widows, the elderly and people with disabilities.

Abu Dhabi Crown Prince approves Dh85bn plan to build 76,000 homes

Sheikh Khaled bin Mohamed agrees on investment to shape community housing and neighbourhood schemes over next five years