Abu Dhabi: The Department of Municipalities and Transport (DMT) has announced the launch of a new Value Housing Programme aimed at enhancing versatility in the emirate's real estate market. The initiative is set to improve living standards for both individuals and families, strengthening social integration and fostering community bonds, which are key components of the Year of Community.
According to Emirates News Agency, the programme will be implemented in strategic phases, ensuring that housing units are affordable and of high quality. This initiative emphasizes the commitment to creating dynamic and inclusive communities. In a significant move, DMT has signed a Memorandum of Understanding (MoU) with Sdeira Group, formerly known as KEZAD Communities, to develop a variety of residential units and commercial assets. Sdeira Group was selected due to its strong reputation in Abu Dhabi and its extensive expertise in real estate, investment, and asset management.
DMT has also formed a partnership with Central Holding Group (CHG), a leading investment, asset management, and real estate firm. CHG was chosen for its proven track record in real estate development, both locally and internationally, and its pioneering strategies that integrate advanced technologies across its real estate projects. Through this collaboration, DMT aims to leverage CHG's global experience to enhance the effectiveness of affordable housing initiatives across Abu Dhabi.
Mohamed Ali Al Shorafa, Chairman of DMT, remarked on the new initiative, highlighting that the MoU agreements are designed to create vibrant neighborhoods that set new standards for quality and innovation. Al Shorafa emphasized that these partnerships reflect DMT's commitment to delivering housing solutions that adhere to principles of inclusivity and sustainability, addressing the increasing demand for housing in the Emirate, and improving living standards.
Furthermore, DMT is dedicated to collaborating closely with investors, developers, and partners to identify new opportunities that will advance the Value Housing Programme. By fostering strategic partnerships, the department aims to drive sustained growth, reshape the real estate sector, and ensure the versatility of Abu Dhabi's housing market by providing diverse options for all societal segments.
These initiatives not only support the high standards of liveability in the Emirate but have also helped Abu Dhabi earn recognition as the most liveable city in the MENA region, as highlighted by the Economist Intelligence Unit's (EIU) Global Liveability Index 2024.