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Abu Dhabi is set to build a new housing project worth AED 3.5 billion ($953 million) to deliver more than a thousand homes for UAE nationals.
The launch of the Yas Canal residential project in Al Raha Beach, which will feature 1,146 villas, has been approved by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, according to a statement on Tuesday.
The project is scheduled for completion in the last quarter of 2027. It is being overseen by the Abu Dhabi Housing Authority, in cooperation with the Abu Dhabi Centre for Projects and Infrastructure and the ICT Real Estate Development Company.
The Yas Canal residential project will be built on an area spanning 1.8 square kilometres. Besides villas, the project will feature three mosques, a school, a gym, as well as various amenities and shops.
The villas will have three to six bedrooms, offering living spaces ranging from 350 to 525 square metres. The villas will be built on plots ranging from 600 to 780 square metres.
Residents who want to buy villas within the development can secure a housing loan from the Abu Dhabi Housing Authority.
(Writing by Cleofe Maceda; editing by Seban Scaria)
