The Sheikh Zayed Housing Programme will provide accommodation for 10,000 Emiratis in RAK.
The Sheikh Zayed Housing Programme is set to invest around $545 million to provide 2,000 houses for Emiratis in Ras Al Khaimah (RAK).
The fund – which was created by the late Sheikh Zayed bin Sultan Al Nahyan – has approved plans to construct the city as part of a strategy to build integrated housing for almost 10,000 Emiratis, Emirates 24×7 reported.
The project, located between the Emirates and Mohammed bin Zayed roads in RAK, is scheduled for launch in 2015.
“The first phase includes 500 houses. The whole project is expected to be completed within four to five years,” said Mohammed Al Haram, project director, according to Emirates 24×7.