Crown Prince Hamdan Bin Mohammed Witnesses Historic Affordable Housing Projects Agreement

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Deputy Prime Minister, recently witnessed the signing of a historic agreement to implement a project aiming to build affordable housing in Dubai. This historic move seeks to create vibrant and healthy communities for skilled professionals, ultimately driving key economic sectors in the city.

The agreement was formalized by a signing between three prominent parties, the Dubai Municipality, the Roads and Transport Authority (RTA), and Wasl Group. In detail, the Director General of Dubai Municipality, the Chairman of the Board of Executive Directors of the RTA, and the Chief Executive Officer of Wasl Group, came together to make the agreement official, under HH Sheikh Hamdan’s presence.

This ⁠Dubai affordable housing project, dubbed ‘Sheikh Hamdan Housing Initiative,’ follows an earlier directive from the Executive Council of Dubai to allocate land to construct 17,080 affordable housing units. Building these homes supports the Dubai 2040 Urban Master Plan and the objectives of the Affordable Housing Policy, both of which are geared towards strengthening urban centres, broadening employment opportunities, and addressing the housing and service needs of residents across all income brackets.

Specifically, six sites across the following areas have been selected to welcome the new residential units in Dubai:

• Me’aisem 1 housing project
• Al Twar 1

• Al Qusais Industrial 5
• Al Leyan 1

This amounts to a total of 1.46 million sq. m of land to be converted into satisfying residential developments aiming to provide affordable housing in Dubai. These communities will meet the approved standards as diverse, high-quality housing options to cater to skilled professionals across multiple nationalities working in strategic positions in both the private and public sectors.

Additionally, the policy is designed to ensure connectivity to the city proper, provide access to essential services, and align with the Emirate’s ‘20-Minute City’ concept. All in all, the objective of this Dubai rental housing development is to provide suitable housing options at affordable rates, develop residential models tailored to diverse community needs, and optimize land use.