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Dubai: Aldar Properties has more than Dh5.7 billion in national housing projects currently under development, the Abu Dhabi property development company said on Monday.
In a statement it said that its current pipeline of national housing projects being developed on behalf of the Abu Dhabi government sits at 2,300. The projects are fully fund by the Abu Dhabi government, which is a major shareholder in the company.
Current projects include two developments in Abu Dhabi and one in Al Ain. The project in Abu Dhabi consists of 1,020 villas on Yas Island across a 220-hectare site. The Yas Island development also includes a primary and secondary school capable of accommodating 1,800 students, three mosques and two residents’ clubs. The other Abu Dhabi project is in Al Falah with 996 villas. The Al Ain project is 275 villas in Al Ghuraibah. The projects are set to be completed by 2016.
Aldar is in the process of delivering 1,887 national housing units to the Abu Dhabi government authorities, which includes villas in Watani and Al Raha in Abu Dhabi, Sila’a in the Western Region and Al Ghuraibah in Al Ain.
Aldar Properties has so far delivered 6,744 housing units for UAE nationals.
Source: Staff Report, gulfnews.com