Aldar partners with Abu Dhabi’s DMT for value housing rental units project
The projects are part of the Value Housing Programme, an initiative spearheaded by DMT to expand access to quality, affordable housing throughout the emirate
Developer Aldar has announced partnership with Abu Dhabi’s Department of Municipalities and Transport (DMT), which aims to develop 2-integrated communities in Mohamed Bin Zayed City (MBZ City) and Baniyas. These communities will collectively provide 9,000 value housing rental units within the emirate.
The projects are part of the Value Housing Programme, an initiative spearheaded by DMT to expand access to quality, affordable housing throughout the emirate, aligning with Abu Dhabi’s long-term urban development goals. In this partnership, Aldar will be responsible for the development, leasing, and management of the communities, while DMT will provide long-term leasing rights over the land.
Aldar’s develop-to-hold pipeline, which now boasts a gross development value of US $5.47bn, will be further enriched by the new projects, each with a gross development value of $762mn. These projects encompass a diverse range of assets, including the recently announced residential rental projects slated for development on Yas Island and Al Shamkha.
The partnership establishes a solid foundation for expanded collaboration between the involved parties, in line with Abu Dhabi’s commitment to providing a diverse range of high-quality housing options across various segments and price points, as mentioned by the developer.
Ahmed Fadhel Almehairbi, the Director General of Abu Dhabi Municipality and Jassem Saleh Busaibe, Chief Executive Officer of Aldar Investment, signed the agreement in the presence of Nasser Saleh Farah, Director General of Financial Affairs at the DMT.
Strategically situated in Baniyas, along the Abu Dhabi–Al Ain (E22) highway, the first development will consist of over 30 residential buildings. These buildings will offer a mixed-use lifestyle, featuring residential units, retail spaces, recreational amenities, and open green areas.
The second project, located in MBZ City, will create a mixed-use residential community. This development will combine single-occupancy accommodation and multi-tenant apartments. It will also include on-site amenities and ancillary retail spaces to cater to residents’ daily needs.
Jassem Saleh Busaibe, Chief Executive Officer, Aldar Investment said, “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.”
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 2-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.
