DMT launches new value housing programme in Abu Dhabi
The Department of Municipalities and Transport (DMT) has announced the launch of a new Value Housing Programme to bolster versatility in the emirate's real estate market.
The initiative, which will be rolled out in strategic phases, aims to improve the living standards for individuals and families alike, strengthening social integration and foster community bonds– which form key elements underpinning the Year of Community.
By ensuring the housing units are both affordable and of exceptional quality, the programme underscores a commitment to cultivating dynamic and inclusive communities.
As part of this effort, DMT signed a Memorandum of Understanding (MoU) with Sdeira Group (formerly KEZAD Communities) to develop a range of residential units and commercial assets. The Group was selected for its strong reputation in Abu Dhabi, with extensive expertise in real estate, investment, and asset management.
DMT has also signed an MoU with Central Holding Group (CHG), a leading investment, asset management, and real estate firm. CHG was chosen for its proven expertise in real estate development, both locally and internationally, mixed with pioneering strategies that integrate cutting-edge technologies across the Group's real estate projects.
By leveraging their extensive global experience, the partnership between DMT and CHG aims to drive collaboration, share knowledge, and amplify the effectiveness and impact of affordable housing across Abu Dhabi.
Commenting on the initiative, Mohamed Ali Al Shorafa, Chairman of DMT, noted that the MoU agreements aim to create vibrant and thriving neighbourhoods that would set new benchmarks for quality and innovation.
'These partnerships underscore our dedication to delivering housing solutions that adhere to our principles of inclusivity and sustainability. They are a crucial step in addressing the growing demand for housing in the Emirate, while improving living standards and providing avenues for everyone to access housing that enhances their well-being,' Al Shorafa said.
Furthermore, the Department is committed to working closely with investors, developers, and partners to identify new opportunities and drive the Value Housing Programme forward. By fostering strategic partnerships, it seeks to drive sustained growth, reshape the real estate sector, and ensure the versatility of Abu Dhabi's housing market by offering diverse options for all segments of society.
These efforts not only support the Emirate's high standards of liveability but have also contributed to Abu Dhabi being recognised as the most liveable city in the MENA region by the Economist Intelligence Unit's (EIU) Global Liveability Index 2024.
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