Leading UAE developer Aldar has announced a strategic partnership with Abu Dhabi’s Department of Municipalities and Transport (DMT) to develop two integrated communities in Mohamed Bin Zayed City (MBZ City) and Baniyas that will deliver 9,000 value housing rental units in the emirate.
The projects form part of the Value Housing Programme, an initiative led by DMT to expand access to high-quality, affordable housing across the emirate in line with Abu Dhabi’s long-term urban development priorities.
Under the partnership, Aldar will lead the development, leasing, and management of the communities, with DMT granting long-term leasing rights over the land.
With a gross development value of AED2.8 billion ($762 million), the new projects will add to Aldar’s develop-to-hold pipeline which has now reached AED20.1 billion and includes diverse assets including the recently announced residential rental projects to be developed on Yas Island and in Al Shamkha.
The partnership lays a strong foundation for expanded collaboration between the entities, aligning with Abu Dhabi’s commitment to delivering a diverse range of high-quality housing options across multiple segments and price points, stated the developer.
Ahmed Fadhel Almehairbi, the Director General of Abu Dhabi Municipality and Jassem Saleh Busaibe, Chief Executive Officer of Aldar Investment, sealed the agreement in the presence of Nasser Saleh Farah, Director General of Financial Affairs at the DMT.
Strategically located within Baniyas along the Abu Dhabi–Al Ain (E22) highway, the first development will comprise over 30 residential buildings with a mixed-use offering of residential units, retail spaces, recreational amenities, and open green areas.
The second project will deliver a mixed-use residential community in MBZ City. The development will combine single occupancy accommodation and multi-tenant apartments, supported by on-site amenities and ancillary retail to serve residents’ day-to-day needs.
Almehairbi said the partnership with Aldar underscores the DMT's shared commitment to advancing the objectives of the Value Housing Programme by delivering high-quality, affordable homes that meet the needs of families and individuals alike and enrich community living.
Due for completion in 2029, the two communities will offer a diverse unit mix, and are designed to prioritise accessibility and convenience, with direct connections to public transport and major road networks.
Residents will benefit from professionally managed communities featuring amenities, green spaces, and direct access to retail and other essential services.
Busaibe pointed out that with Abu Dhabi’s population continuing to grow, there is a significant need for new homes to be delivered that cater to a broad range of demographics residing in the emirate.
"Our collaboration with DMT will ensure thousands of quality rental homes come to the market in well-connected and amenity rich communities, ensuring a fully affordable lifestyle for residents," he added.-TradeArabia News Service
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