Al Saad residential project inaugurated in Al Ain
Property Al Saad residential project inaugurated in Al Ain
By
The authority has supervised the delivery of residential plots and ready-made housing, approved housing loans, and granted exemptions from housing loans
Mohamed bin Zayed Al Nahyan, the President of the UAE and the Ruler of Abu Dhabi, along with Hazza bin Zayed Al Nahyan, the Ruler's Representative in the Al Ain region, have officially inaugurated the Al Saad residential project in Al Ain city. This project boasts 306 new residential units, spread across 123ha and was developed at a total cost of US $271mn.
During the project's inauguration, the explanation of its specifications was provided with an overview of its external and internal designs. All residential villas were constructed in accordance with the latest international standards and best practices to meet the preferences of customers, while advancing social welfare and contributing to the development of an integrated, contemporary residential environment that elevates the quality of life.
Villas in the Al Saad project, managed by the Abu Dhabi Housing Authority (ADHA) in collaboration with Abu Dhabi Projects and Infrastructure Centre, are designed with five bedrooms each. Beyond residential villas, the project boasts integrated community and service facilities, including three commercial complexes with 18 stores, a mosque, and two masjids that can accommodate a total of 2260 visitors. Additionally, there are 34 parks and community centers (majlis) for residents to enjoy.
Mohamed Ali Al Shorafa, Chairman of the Board of Directors of Abu Dhabi Housing Authority commented, 'The Al Saad residential project embodies the ADHA's efforts to build integrated residential communities that provide innovative residential choices for residents, in accordance with the highest international standards. This is a significant step forward in advancing the vision and directives of our wise leadership, which prioritises citizens' welfare, stable families, and adequate housing. The project is a significant addition to the extensive portfolio of residential projects the authority is striving to complete across Abu Dhabi, which reflects our commitment to shaping a sustainable residential system that improves the lives of residents in Al Ain.'
Hamad Hareb AlMuhairi, Director General of Abu Dhabi Housing Authority stated, 'The Al Saad residential project was designed to meet the growing demands of residents, while also supporting the ongoing expansion of Al Ain City. It was thoughtfully created to enhance the citizens' quality of life by accommodating their needs in terms of space and design. As we go forward, we will continue to focus on integrated communities that provide residents with the necessary services and amenities. More importantly, the authority will allow the beneficiaries to choose their homes, fostering family cohesion and addressing each individual's needs in accordance with his or her social and family circumstances.'
Eng Maysarah Mahmoud Eid, Acting Director-General of Abu Dhabi Centre for Projects, and Infrastructure remarked, 'By working together with the ADHA, we reiterate our unwavering commitment to improving the lives of the people we serve. We will continue to provide superior public and community facilities that ensure comfort, follow the most stringent sustainability guidelines, and raise living standards across the Emirate.'
Abu Dhabi Housing Authority has been providing suitable government housing for the citizens of Abu Dhabi. The authority has supervised the delivery of residential plots of land and ready-made housing, approved housing loans, and granted exemptions from housing loans. These initiatives have resulted in a total value of housing benefits exceeding $44.1bn, impacting over 118,700 citizens, said a statement.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Etihad
2 hours ago
- Al Etihad
London stocks pull back as investors turn cautious ahead of US-China talks
9 June 2025 16:40 LONDON (REUTERS) London's benchmark index slipped on Monday after rounding off four weeks of gains, as caution prevailed ahead of much-awaited US-China talks later in the FTSE 100 was down 0.3%, while the mid-cap FTSE 250 was up 0.4%.Top officials from the US and China are scheduled to meet in London for talks that investors hope will indicate some progress in de-escalating trade tensions between the world's two biggest talks follow a phone call between the presidents of the two countries last week, in which they agreed to hold more talks amid a global trade war that has escalated from tit-for-tat tariffs to export finance minister Rachel Reeves will hold a meeting with Chinese vice premier, He Lifeng, without providing any details on the sectors were lower, with aerospace and defence stocks leading losses. They were down 0.9%, extending declines to a third session. Pharma stocks dipped 0.8%, as investors looked to book some stocks rounded off the previous week with gains, after a US jobs report allayed concerns of an economic slowdown in the world's biggest economy, despite a US tariff roller stocks, WPP slipped about 2% to bottom the FTSE 100. The ad group said its chief executive officer, Mark Read, would retire by the end of soared 70% to top the FTSE 250 after the scientific instruments maker said it has received a takeover proposal from private equity firm Advent, valuing its shares at 37.35 pounds per jumped 24% after US chipmaker Qualcomm agreed to acquire to semiconductor company for about $2.4 billion. M&G Investments gained 1.7% as UBS upgraded the stock to 'buy' from 'neutral'.
Gulf Today
3 hours ago
- Gulf Today
China's export growth slows last month as tariffs take toll
China's export growth slowed to a three-month low in May as US tariffs slammed shipments, while factory-gate deflation deepened to its worst level in two years, heaping pressure on the world's second-largest economy on both the domestic and external fronts. US President Donald Trump's global trade war and the swings in Sino-US trade ties have in the past two months sent Chinese exporters, along with their business partners across the Pacific, on a roller coaster ride and hobbled world growth. Underscoring the US tariff impact on shipments, customs data showed that China's exports to the US plunged 34.5 per cent year-on-year in May in value terms, the sharpest drop since February 2020, when the outbreak of the COVID-19 pandemic upended global trade. Total exports from the Asian economic giant expanded 4.8 per cent year-on-year in value terms last month, slowing from the 8.1 per cent jump in April and missing the 5.0 per cent growth expected in a Reuters poll, customs data showed on Monday, despite a lowering of US tariffs on Chinese goods which had taken effect in early April. 'It's likely that the May data continued to be weighed down by the peak tariff period,' said Lynn Song, chief economist for Greater China at ING. Song said there was still front-loading of shipments due to the tariff risks, while acceleration of sales to regions other than the United States helped to underpin China's exports. Imports dropped 3.4 per cent year-on-year, deepening from the 0.2 per cent decline in April and worse than the 0.9 per cent downturn expected in the Reuters poll. Exports had surged 12.4 per cent year-on-year and 8.1 per cent in March and April, respectively, as factories rushed shipments to the US and other overseas manufacturers to avoid Trump's hefty levies on China and the rest of the world. While exporters in China found some respite in May as Beijing and Washington agreed to suspend most of their levies for 90 days, tensions between the world's two largest economies remain high and negotiations are underway over issues ranging from China's rare earths controls to Taiwan. Trade representatives from China and the US are meeting in London on Monday to resume talks after a phone call between their top leaders on Thursday. China's imports from the US also lost further ground, dropping 18.1 per cent from a 13.8 per cent slide in April. Zichun Huang, economist at Capital Economics, expects the slowdown in exports growth to 'partially reverse this month, as it reflects the drop in US orders before the trade truce,' but cautions that shipments will be knocked again by year-end due to elevated tariff levels. China's exports of rare earths jumped sharply in May despite export restrictions on certain types of rare earth products causing plant closures across the global auto supply chain. The latest figures do not distinguish between the 17 rare earth elements and related products, some of which are not subject to restrictions. A clearer picture of the impact of the curbs on exports will only be available when more detailed data is released on June 20. China's May trade surplus came in at $103.22 billion, up from the $96.18 billion the previous month. Other data, also released on Monday, showed China's imports of crude oil, coal, and iron ore dropped last month, underlining the fragility of domestic demand at a time of rising external headwinds. Beijing in May rolled out a series of monetary stimulus measures, including cuts to benchmark lending rates and a 500 billion yuan low-cost loan programme, aimed at cushioning the trade war's blow to the economy. China's markets showed muted reaction to the data. The blue-chip CSI300 Index climbed 0.29 per cent and the benchmark Shanghai Composite Index was up 0.43 per cent. Producer and consumer price data, released by the National Bureau of Statistics on the same day, showed that deflationary pressures worsened last month. The producer price index fell 3.3 per cent in May from a year earlier, after a 2.7 per cent decline in April and marked the deepest contraction in 22 months. Cooling factory activity also highlights the impact of US tariffs on the world's largest manufacturing hub, dampening faster services growth as suspense lingers over the outcome of US-China trade talks. Retail sales growth slowed last month as spending continued to lag due to job insecurity and stagnant new home prices. These headwinds were evident in China's car sales for May, which grew 13.9 per cent year-on-year, slowing from a 14.8 per cent increase the previous month, data from the China Passenger Car Association showed. Sluggish domestic demand and weak prices have weighed on China's economy, which has struggled to mount a robust post-pandemic recovery amid a prolonged property slump and has relied on exports to underpin growth. Reuters
Al Etihad
5 hours ago
- Al Etihad
Gold gains with focus on US-China trade talks; platinum tops 4-year peak
9 June 2025 13:26 (REUTERS)Gold prices rose on Monday, supported by a weaker US dollar ahead of US-China trade talks aimed at resolving tensions, while platinum extended gains for a sixth straight session to scale a four-year gold rose 0.4% to $3,323.71 an ounce, as of 0806 GMT, after dropping earlier in the session to $3,293.29, its lowest level since June gold futures was steady at $3, dollar (DXY), opens new tab fell 0.3% against a basket of peers, making bullion cheaper for holders of other recognise that key drivers of gold like trade and geopolitical tensions, debt concerns and weak economic growth, remain in place and should continue to support the metal in the months ahead, said Giovanni Staunovo, UBS US and Chinese officials will sit down in London on Monday for talks aimed at defusing the high-stakes trade dispute between the two superpowers that has widened in recent weeks beyond tit-for-tat tariffs to export controls over goods and components critical to global supply US non-farm payrolls data have led investors to scale back expectations for Federal Reserve rate cuts this year from two to only one in attention now shifts to US CPI data, due on Wednesday for further clues on the Fed's monetary policy traditionally considered a safe-haven asset during political and economic uncertainty, tends to thrive in a low-rate China's central bank added gold to its reserves in May for the seventh straight month, official data platinum rose 3% to $1,210.80, its highest level since May 2021. Spot silver was up 1% to $36.3 per ounce, while palladium rose 2.3% to $1,070.97.
