Sheikh Khalid tours Yas Island's multibillion-dirham residential projects

Abu Dhabi Executive Council member hails public-private partnerships on visit with Aldar Properties team

Sheikh Khalid bin Mohamed highlighted the strength of Abu Dhabi's property sector after touring a sprawling network of residential communities being developed on Yas Island by Aldar Properties.

Sheikh Khalid, an Abu Dhabi Executive Council member and chairman of Abu Dhabi Executive Office, stressed the crucial role being played by public-private partnerships to accelerate growth in the housing industry.

He hailed Aldar for adopting the UAE's In-Country Value Programme, which aims to give priority to Emirati businesses and workers during the procurement process for major developments and bolster the local economy.

During the visit, Aldar representatives reaffirmed their commitment to promoting social and environmental sustainability in their projects and to building high-quality, affordable developments in line with Abu Dhabi's strategy to improve quality of life for its residents.

Aldar is pushing ahead with several retail developments on Yas Island to make the area an attractive place to live as well as work and visit.

Major schemes include Yas Acres, a golf and waterfront development valued at Dh6 billion ($1.63bn), which will feature more than 1,300 villas when completed, and Waters Edge, featuring a 800-metre promenade and its own canal and homes ranging from modern studios to spacious three-bedroom apartments.