Abu Dhabi – Decypha: Abu Dhabi's Higher Corporation for Specialised Economic Zones, known as ZonesCorp, is working on offering the first of its planned residential city for labourers to private investors, reported Arabian Business.
Announced in 2008, Razeen Worker Residential City, is the first in a series of housing cities planned for an estimated 800,000 skilled labour across the emirate, according to Trade Arabia.
Dubbed Razeen A, the first phase of the Razeen project will lay the foundation for a strategic partnership between the public and private sectors. Falah Al Ahbabi, Chairman of the company, stated that “ZonesCorp is working together with its partners in the government sector to finish the infrastructure of Razeen city so it can be operational before the end of the year [2017].”
The tender will is planned to be announced in the local media, according to Saeed Eisa Al Khyeli, Director General of the company.
“Worker residential cities present an excellent investment opportunity for the private sector and building public private/partnerships through projects such as this make an important contribution to diversifying the economy and Abu Dhabi 2030 Vision,” he added.
The project is expected to accommodate around 25,000 workers (up to 100,000 in another version), will be located 30km from the Industrial City of Abu Dhabi and is expected to be 640,000 square metre.
Since its inception in 2004, ZonesCorp, which has invested AED11 billion, currently oversees a total of 28 cities that house over 450,000 workers from the industrial sector.
By Decypha News Editorial Team
