Abu Dhabi plans to construct a new housing project for more than a thousand UAE citizens, costing AED 3.5 billion ($953 million).
According to a statement released on Tuesday, Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, has given his approval for the start of the Yas Canal residential project in Al Raha Beach. The project will comprise 1,146 villas.
The project is expected to be finished in 2027’s final quarter. The Abu Dhabi Housing Authority is in charge of it, working with the ICT Real Estate Development Company and the Abu Dhabi Centre for Projects and Infrastructure.
Over 1.8 square kilometers will be used for the construction of the Yas Canal residential project. In addition to villas, the project will have a school, a gym, three mosques, and several shops and amenities.
The villas will range in size from 350 to 525 square meters, with three to six bedrooms. On lots that range in size from 600 to 780 square meters, the villas will be constructed.
Residents can obtain a housing loan from the Abu Dhabi Housing Authority to purchase villas within the development.