Aldar, Abu Dhabi Housing Authority unveil Dhs8bn project on Yas Island

Image: WAM

Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, launched Balghaiylam, a new residential development located north-east of Yas Island, as per state news agency WAM.

Aldar Properties in partnership with the Abu Dhabi Housing Authority (ADHA) will develop the Dhs8bn project as part of Abu Dhabi Government’s efforts to develop integrated and sustainable residential neighbourhoods that will further enhance family stability and community wellbeing in the emirate.

Balghaiylam development on Yas Island

The project, which is scheduled to be completed by 2026, will offer 1,743 high-quality ready-built homes and access to a broad range of facilities in an integrated community development.

During the launch, Sheikh Khaled reviewed the design features of the project. In addition to high-quality housing, the Balghaiylam residential project includes schools, mosques, retail and F&B outlets, sports centres, community gardens, playgrounds and parks, and an equestrian centre, providing citizens with access to high-quality amenities in an integrated and dynamic community.

The project is in line with Abu Dhabi Government’s plan to leverage public-private partnerships and provide Emiratis with suitable housing within real estate projects developed by approved developers, reported WAM.

Mohammed Ali Al Shorafa, chairman of the Department of Municipalities and Transport and chairman of Abu Dhabi Housing Authority said, “Providing citizens with a good quality of life and meeting their housing needs is a top priority for Abu Dhabi’s leadership. To ensure more housing benefits and options that meet Emirati families’ needs and aspirations, Abu Dhabi Housing Authority is launching new housing projects in partnership with the private sector. This partnership with Aldar aims to provide an array of villas for citizens to increase homeownership among Emiratis and reduce delays in obtaining adequate housing.

Citizens who have been pre-approved by ADHA can use their loan to purchase three to six-bedroom villas with a range of architectural designs and interior layouts, according to their needs and finances.

ADHA will provide Aldar with a list of eligible citizens to review the available villas, and then complete the purchase process.

Mohamed Khalifa Al Mubarak, chairman of the Department of Culture and Tourism and chairman of Aldar Properties said, “As a strategic partner of Abu Dhabi Government, we are committed to leveraging our extensive expertise and industry knowledge to build sustainable and integrated communities where UAE nationals want to live. Our aim is to contribute to the success of this ambitious plan by meeting the needs of citizens, providing stability for their families, and ultimately fostering happy and healthy communities.”