New Residential Projects Worth $1.5 Billion Announced In Dubai

The Vice President, Prime Minister, and ruler of Dubai, HH Sheikh Mohammed bin Rashid Al Maktoum, has given his approval for several housing projects totaling AED5.4 billion ($1.5 billion) to be implemented for the benefit of residents in various parts of Dubai.

According to Wam, 3,004 new homes for Emirati residents will be constructed in Dubai as part of the projects, 1,181 of which will be constructed in Latifa City for recipients of housing loans.

The projects envision 606 new homes in Al Yalayis 5, 432 homes in Wadi Al Amardi, 398 homes in Al Awir 1, 200 homes in the Makan neighborhood of Hatta, 120 homes in Oud Al Muteena, and 67 homes in Dubai’s rural and rural areas for recipients of the housing grant category.

Sheikh Mohammed said: “Housing programmes for citizens represent a top priority and we are committed to ensuring that our people have the best living standards and all the support they need to foster stable family environments and community wellbeing.”

“People are the foundation of our renaissance, our successful development experience, and the cornerstone of the global standing we have achieved in all respects,” he stated.

The new housing projects, according to Omar Hamad Bu Shehab, CEO of the Mohammed bin Rashid Housing Establishment, represent the leadership’s goal of giving citizens an extraordinary quality of life by offering an integrated residential environment that satisfies all of their needs while guaranteeing the utmost comfort and safety.

“The housing projects plan is part of a series of projects implemented by the MRHE to provide for the future housing needs of Emirati citizens within integrated communities. These plans are implemented drawing upon the best urban planning standards, placing citizens at the forefront of all goals aimed at ensuring public wellbeing over the next 20 years,” he added.