Dubai: New affordable housing project to serve residents across income levels, says top official
Dubai Crown Prince Sheikh Hamdan bin Mohammed approved the allocation of 1.46 million square metres of land for the project. The first phase will develop six sites in Al Mueisim 1, Al Twar 1, Al Qusais Industrial 5, and Al Leyan 1.
'The project in its initial phase will provide more than 17,000 residential units with affordable rent prices for skilled professionals of various nationalities working in vital and strategic sectors across both the public and private sectors in Dubai,' Nasser Abu Shehab, head of Dubai Urban Planning Coordination Committee, told Khaleej Times.
The first phase targets skilled professionals across:
Dubai government departments
Healthcare sector (nursing, medical support services, etc.)
Education sector (teachers, administrators, etc.)
Transportation sector
Tourism and hospitality sector
Telecommunications and technology sector
Entertainment, culture, and creative arts sector
The official did not reveal the average rents at which these units will be offered. 'Project details and prices will be identified in the next phase,' he said.
In addition to 'high-quality residential spaces', the six developments will feature integrated community facilities and open spaces.
Closer to workplaces
The project is part of a wider Affordable Housing Policy that aims to foster vibrant and healthy communities and address housing needs. 'The policy caters to various segments of society, offering a range of housing options suitable for individuals across different income levels. Additionally, it will facilitate the development of new accommodations for workers closer to their workplaces, enhancing the quality of these facilities and ensuring the provision of adequate services for all segments of society. The policy also seeks to strengthen social cohesion and improve urban development,' said Abu Shehab.
Overseen by the Supreme Committee for Urban Planning, the project will be implemented by multiple departments, including Dubai Land Department, Dubai Municipality, Roads and Transport Authority, General Directorate for Identity and Foreigners Affairs – Dubai, Dubai Civil Defence, and Dubai Real Estate Corporation.
After reaching historic highs, rentals in Dubai are stablising. Rents are still expected to increase across the Emirate, although at a moderate pace of around 10 per cent.
As reported by Khaleej Times, real estate experts have noted how several residents are opting to buy homes due to rising rents. Quoting Dubai Land Department data, Allsopp & Allsopp said Dubai recorded a 30 per cent drop in month-on-month rental renewals.
Christopher Cina, director of Sales at Betterhomes, said the real estate platform has seen 'continued growth in buyer interest, particularly from residents moving from renting to owning, driven by historically high rents'.
'This shift also reflects a more long-term commitment to living in Dubai.'
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