Abu Dhabi Launches Affordable Housing Program to Meet Growing Demand

Housing

UAE: Abu Dhabi has introduced an affordable housing programme to address rising real estate demand while enhancing living standards across the emirate.

The Value Housing Programme is a joint effort between the Department of Municipalities and Transport (DMT), Sdeira Group—formerly Kezad Communities—and Central Holding Group, DMT announced on Monday. As part of the initiative, the department has signed two preliminary agreements with these companies.

The project will be rolled out in phases and will feature "high-quality" residential units. However, DMT has not disclosed the development’s total value, the number of units planned, or the project timeline.

The agreements "aim to create vibrant and thriving neighbourhoods that would set new benchmarks for quality and innovation", said Mohamed Al Shorafa, chairman of the DMT.

“These partnerships underscore our dedication to delivering housing solutions that adhere to our principles of inclusivity and sustainability. They are a crucial step in addressing the growing demand for housing in the emirate, while improving living standards and providing avenues for everyone to access housing that enhances their well-being."

The UAE’s property market remains strong, driven by government initiatives such as residency permits for retirees and remote workers, the expansion of the 10-year Golden Visa programme, and broader economic diversification efforts.

In 2024, Abu Dhabi recorded real estate transactions worth Dh96.2 billion ($26.19 billion), marking an annual increase of over 10%. The total number of transactions rose by approximately 24% to 28,249, according to the Abu Dhabi Real Estate Centre.

"The department is committed to working closely with investors, developers and partners to identify new opportunities and drive the Value Housing Programme forward," the DMT said. "By fostering strategic partnerships, it seeks to drive sustained growth, reshape the real estate sector and ensure the versatility of Abu Dhabi's housing market by offering diverse options for all segments of society."

Source: The National News