Abu Dhabi unveils new Dhs3.5bn residential project for citizens

Image: Abu Dhabi Media Office

Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, has given the green light to the Yas Canal residential project in Al Raha Beach.

With an estimated budget of Dhs3.5bn, this ambitious project will comprise 1,146 residential villas tailored exclusively for UAE Nationals.

It is scheduled for completion in Q4 2027.

Read: Abu Dhabi green-lights Dhs66bn development drive in 2024

Yas Canal project in Abu Dhabi: An example of public-private partnership

This project is a result of a collaborative effort between the Abu Dhabi Housing Authority, the Abu Dhabi Centre for Projects and Infrastructure, and the ICT Real Estate Development Company.

The ICT Real Estate Development Company will spearhead the design, construction and infrastructure development of the project under the supervision of the Abu Dhabi Centre for Projects and Infrastructure.

Sales will be managed in partnership with the housing authority.

Spanning 1.8 square kilometres, the Yas Canal residential project will comprise not only residential villas but also mosques, a school, a gym, and a range of amenities and shops.

The villas will range from three to six bedrooms, boasting spacious layouts ranging from 350 to 525 square metres, situated on generously sized plots ranging from 600 to 780 square metres.

Khaled bin Mohamed bin Zayed has approved the launch of the Yas Canal residential project in Al Raha Beach. The AED3.5bn project covers 1.8km2 and will provide 1,146 villas for UAE Nationals, along with 3 mosques, a school and a gym, shops and amenities across 10,000m2. pic.twitter.com/1jwBciqkEM

— مكتب أبوظبي الإعلامي (@ADMediaOffice) March 26, 2024

One of the project’s key features is its accessibility to UAE Nationals seeking housing loans from the Abu Dhabi Housing Authority, providing them with the opportunity to purchase villas within the development.