Abu Dhabi allocates $23bn to build 76,000 homes
01 June 2023
Abu Dhabi Executive Council has allocated around AED85.4 billion ($23.2 billion) for setting up integrated residential neighbourhoods across the emirate over the next five years as part of its infrastructure development project.
The project scope includes development of 76,000 new homes as well as plots of land for citizens by 2028.
This comes following the directives of HH Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE and Ruler of Abu Dhabi and Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, said the Council.
These residential neighbourhoods will feature several key amenities and leisure facilities including public parks, schools and mosques, schools as well as plenty of green spaces, it added.
Meanwhile, Abu Dhabi has announced that work has begun on the third phase of Al Falah housing project, coming up on a 2.1 million sq m area at a total investment of over AED1.92 billion.
The development will feature 899 residential villas as well as amenities as well as allocated plots of land for commercial and community facilities. The expansion of Al Falah is the latest phase following the project’s first and second phases, which have already provided citizens with 4,857 homes since 2012, according to the council.
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