Dubai [UAE], May 20 (ANI/WAM): Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, and Chairman of The Executive Council of Dubai, witnessed the signing of an agreement to implement a series of affordable housing projects in the emirate. The agreement was signed between the Roads and Transport Authority (RTA), Dubai Municipality, and Wasl Group.
Mattar Al Tayer, Director General, Chairman of the Board of Executive Directors of the RTA, and Chairman of the Supreme Committee for Urban Planning, signed the agreement on behalf of the RTA. Marwan bin Ghalita, Director General of Dubai Municipality, signed on behalf of the Municipality, while Hesham Abdulla Al Qassim, Chief Executive Officer of Wasl Group, signed on behalf of Dubai Real Estate Corporation (DREC)..
The agreement follows a directive from The Executive Council of Dubai to allocate land for affordable housing projects, in line with the Dubai 2040 Urban Master Plan and the objectives of the Affordable Housing Policy. The policy aims to develop vibrant, healthy communities; support urban centres that drive key economic sectors; diversify employment opportunities; and address the housing and service needs of residents across income levels. It also seeks to provide diverse, high-quality housing options that meet approved standards, ensure connectivity to the city centre, offer access to essential services, and align with the '20-Minute City' concept.
The first phase of the housing projects covers six areas across Me'aisem 1, Al Twar 1, Al Qusais Industrial Area 5, and Al Leyan 1, with a combined area of approximately 1.46 million square metres. The development will deliver more than 17,000 residential units, catering to skilled professionals of various nationalities working in strategic positions in both public and private sectors. The overall objective is to provide suitable housing options at affordable rental rates, optimise land use, and develop residential models tailored to diverse community needs.
Mattar Al Tayer, Director General, Chairman of the Board of Executive Directors of the RTA, and Chairman of the Supreme Committee for Urban Planning, said: "Housing remains a key priority under the guidance of our leadership, reflecting their commitment to enhancing community well-being and quality of life. The Affordable Housing Programme is one of the Dubai Government's pioneering initiatives aimed at supporting individual and family welfare, while promoting a balanced lifestyle. The launch of the programme also aligns with the UAE's designation of 2025 as the 'Year of Community'."
He added: "The Programme supports the objectives of the Dubai 2040 Urban Master Plan, which envisions Dubai as the world's best city to live in, offering integrated, accessible, and high-quality housing solutions. It also contributes to reducing commuting times between residences and workplaces, helping to lower the cost of living, enhance productivity, and improve employee satisfaction and well-being."
Marwan Ahmad bin Ghalita, Director General of Dubai Municipality, said: "The affordable housing projects reflect the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to build a cohesive and prosperous society and position Dubai as the best city in the world to live and work. This vision is driven by a commitment to providing a world-class quality of life within vibrant and empowered communities, enabling residents to grow sustainably, realise their aspirations, and sustain their success."
He added: "The new projects introduced under the Affordable Housing Policy, launched under the directives of Sheikh Hamdan bin Mohammed, represent a major step in developing sustainable urban centres that will shape the future of housing in Dubai and support the goals of the Dubai 2040 Urban Master Plan. These projects will also contribute to building inclusive, healthy communities equipped with comprehensive services and recreational facilities that meet residents' needs. In parallel, they will support job creation, stimulate economic and commercial activity, and strengthen sustainable urban planningenhancing Dubai's attractiveness, resilience, and liveability."
Hesham Abdulla Al Qassim, Chief Executive Officer, Wasl Group, said: "At Wasl, we are committed to shaping a future where inclusive urban living is a reality for all. Our collaboration with RTA and Dubai Municipality represents a strategic step forward in delivering sustainable, high-quality housing solutions. Insights from the recent 'Bridges of Communication' workshop have reinforced the importance of unified efforts in addressing housing affordability. This MoU underscores our commitment to advancing initiatives that support the Dubai 2040 Urban Master Plan and contribute to shaping a cohesive, sustainable, and future-ready urban landscape." (ANI/WAM)
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor