Abu Dhabi - Mubasher: Abu Dhabi’s Department of Municipalities and Transport (DMT) has partnered with Aldar Properties to develop two integrated residential communities in Mohamed bin Zayed City (MBZ City) and Baniyas.
The projects will deliver 9,000 value housing rental units under Abu Dhabi’s Value Housing Program, according to a press release.
Moreover, the agreement grants Aldar long-term leasing rights over land in both locations to develop, lease, and manage the communities.
The developments aim to expand access to affordable, high-quality housing in the UAE and support rising demand across key residential areas.
With a gross development value (GDV) of AED 2.80 billion, the two projects will add to Aldar Properties’ develop-to-hold pipeline, which now totals AED 20.10 billion across residential, commercial, hospitality, and logistics assets in the UAE.
Ahmed Fadhel Al Mehairbi, Director General of Abu Dhabi City Municipality, said: “This partnership with Aldar underscores our shared commitment to advancing the objectives of the Value Housing Program by delivering high-quality, affordable homes that meet the needs of families and individuals alike and enrich community living.”
From his side, Jassem Saleh Busaibe, the CEO of Aldar Investment, commented: “As Abu Dhabi’s population continues 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,” the CEO noted.
The first community in Baniyas, located along the Abu Dhabi–Al Ain highway (E22), will include more than 30 residential buildings alongside retail outlets, recreational facilities, and green spaces.
Meanwhile, the second development in MBZ City will feature a mix of single-occupancy units and multi-tenant apartments supported by retail and community amenities.
The two projects are scheduled for completion in 2029 and are designed to ensure accessibility, connectivity, and integrated community living, with direct links to public transport and major road networks.
The real estate developer recently secured a five-year AED 5 billion ($1.36 billion) syndicated revolving credit facility linked to sustainability targets.
