Abu dhabi: The Department of Municipalities and Transport (DMT) in collaboration with Aldar Group has revealed a strategic partnership aimed at developing two integrated communities in Mohamed bin Zayed City and Baniyas. This initiative will result in the delivery of 9,000 housing rental units within the emirate.
According to Emirates News Agency, this initiative is part of the Value Housing Programme spearheaded by DMT. The programme is designed to increase access to affordable, quality housing across Abu Dhabi, aligning with the emirate’s long-term urban development goals. Aldar will spearhead the development, leasing, and management of these communities, while DMT will provide long-term leasing rights for the land.
The new developments, valued at AED2.8 billion, will contribute to Aldar’s develop-to-hold portfolio, which has now grown to AED20.1 billion. This portfolio includes a variety of assets, such as the recently announced residential rental projects on Yas Island and in Al Shamkha, Abu Dhabi.
Ahmed Fadhel Almehairbi, Director-General of DMT, stated that the partnership with Aldar highlights a shared commitment to the Value Housing Programme’s goals, aiming to provide quality, affordable homes that cater to families and individuals. He emphasized the importance of creating vibrant communities that enhance social cohesion, especially as the Year of Family is celebrated.
Jassem Saleh Busaibe, CEO of Aldar Investment, noted the growing population in Abu Dhabi and the subsequent demand for diverse housing solutions. He emphasized that the partnership with DMT will bring thousands of quality rental homes to the market within well-connected and amenity-rich communities, ensuring an affordable lifestyle for residents.
The first development, strategically located in Baniyas along the Abu Dhabi-Al Ain highway, will feature over 30 residential buildings offering a mix of residential units, retail spaces, recreational amenities, and green areas. The second project in MBZ City will offer a mixed-use residential community with single and multi-tenant apartments, supported by on-site amenities and retail options.
Scheduled for completion in 2029, these communities are designed to ensure accessibility and convenience, featuring connections to public transport and major road networks.