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HH Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, officially launched a new residential development worth AED8 billion ($2.18 billion) situated northeast of Yas Island in Abu Dhabi. This project, named Balghaiylam, is a collaborative effort between Aldar Properties and the Abu Dhabi Housing Authority (ADHA), aiming to create integrated and sustainable residential neighbourhoods that prioritize family stability and community well-being in the emirate.
The development is part of the Abu Dhabi Government's commitment to enhancing living standards for its residents. Balghaiylam is set to be completed by 2026 and will consist of 1,743 high-quality ready-built homes, providing residents with access to a wide range of facilities. The Balghaiylam residential project goes beyond just offering high-quality housing. It encompasses a wide array of amenities, ensuring an integrated community experience for its citizens. These amenities include schools, mosques, retail and F&B outlets, sports centres, community gardens, playgrounds, parks, and even an equestrian centre, all of which are easily accessible to the residents.
Sheikh Khaled, after thoroughly examining the project's design features, was joined by other prominent figures, including Mohamed Khalifa Al Mubarak, who serves as the Chairman of the Department of Culture and Tourism as well as the Chairman of Aldar Properties; Mohammed Ali Al Shorafa, Chairman of the Department of Municipalities and Transport and Chairman of Abu Dhabi Housing Authority; Saif Saeed Ghobash, the Secretary General of Abu Dhabi Executive Council; Hamad Hareb Al Muhairi, the Director General of Abu Dhabi Housing Authority; and Talal Al Dhiyebi, the Group CEO of Aldar Properties. The project aligns with the Abu Dhabi Government's strategy to utilize public-private partnerships, aiming to offer suitable housing options to Emiratis through real estate projects developed by approved developers.
Emirati citizens who have received pre-approval from ADHA will have the opportunity to use their loan to buy three- to six-bedroom villas with various architectural designs and interior layouts, tailored to their specific requirements and financial capabilities.
To facilitate this process, ADHA will supply Aldar with a list of eligible citizens, enabling them to review the available villas and subsequently complete the purchase procedure. Al Shorafa emphasized the leadership's commitment to prioritize the well-being of citizens by providing them with a high quality of life and addressing their housing needs effectively. Abu Dhabi Housing Authority is initiating fresh housing projects in collaboration with the private sector to ensure a wider range of housing benefits and options that cater to the specific requirements and aspirations of Emirati families. This partnership with Aldar is focused on offering a diverse selection of villas to promote home ownership among Emiratis and expedite the process of acquiring suitable housing.
Al Mubarak expressed that as a strategic partner of the Abu Dhabi Government, their commitment lies in utilizing their extensive expertise and industry knowledge to construct sustainable and integrated communities where UAE nationals would desire to reside. Their objective is to contribute to the success of this ambitious plan by addressing the citizens' needs, ensuring stability for their families, and ultimately nurturing happy and healthy communities.
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