UAE announces $23bn fund to build new homes
09 May 2023, Arabian Business
The UAE has approved a $23bn fund to build up to 76,000 new homes.
Under the directives of Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE and Ruler of Abu Dhabi, Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council approved the budget.
AED85.4bn ($23bn) will be set aside to develop integrated residential neighbourhoods that will provide up to 76,000 homes and plots of land for citizens over five years.
UAE new homes
The projects will feature integrated services, as well as amenities and leisure facilities, including the construction and development of mosques, schools, public parks and green spaces.
The project is designed to ensure the highest living standards for citizens and to further enhance stability and families’ wellbeing across Abu Dhabi.