Real estate development company Aldar and Abu Dhabi’s Department of Municipalities and Transport (DMT) have confirmed a partnership to create 9,000 value housing rental units across two locations in the United Arab Emirates (UAE).
The initiative will deliver new integrated residential communities in Mohamed Bin Zayed City (MBZ City) and Baniyas, supporting the DMT’s Value Housing Programme aimed at widening access to affordable rental options in line with Abu Dhabi’s long-term urban development goals.
Aldar will oversee all phases of the two projects, including development, leasing and ongoing management of the communities.
DMT will provide long-term leasing rights over the land allocated for the developments.
The planned projects, valued at Dh2.8bn ($762m), increase Aldar’s total develop-to-hold pipeline in the UAE to Dh20.1bn, adding to recent rental schemes announced for Yas Island and Al Shamkha.
The first of the two new sites is set to rise in Baniyas, adjacent to the Abu Dhabi–Al Ain (E22) highway. It will feature more than 30 residential buildings and provide a mix of residential units, retail outlets, recreational facilities and communal green areas.
The second development will take shape in MBZ City, providing a combination of single-occupancy units and multi-tenant apartments, complemented by on-site amenities and local retail services designed to meet daily needs.
Both communities are due for completion in 2029.
The developments aim to integrate accessible transport connections, with links to main road networks and public transport options.
Residents are expected to have access to managed facilities, landscaped areas, and essential retail and service offerings within each development.
DMT and Aldar signed the agreement during a ceremony witnessed by Nasser Saleh Farah, director general of financial affairs at DMT. Ahmed Fadhel Almehairbi, director general of Abu Dhabi Municipality, and Jassem Saleh Busaibe, CEO of Aldar Investment, executed the signing on behalf of their organisations.
Ahmed Fadhel Almehairbi said: “This partnership with Aldar underscores our shared commitment to advancing the objectives of the Value Housing Programme by delivering high-quality, affordable homes that meet the needs of families and individuals alike and enrich community living.”
The collaboration supports the emirate’s ongoing strategy to diversify its housing market and provide solutions across various price points and residential needs.
Jassem Saleh Busaibe said: “Our collaboration with DMT will ensure thousands of quality rental homes come to the market in well-connected and amenity-rich communities, ensuring a fully affordable lifestyle for residents.”
