Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, has inaugurated phase one of the Dh3.1 billion ($844 million) North Bani Yas housing project for UAE citizens.
Spanning 3.1 square kilometres, the development comprises 1,365 villas that feature modern designs infused with Emirati heritage. Built on 1,080-square metre plots, the villas will have five or six-bedroom options.
The development will also feature 17 parks and recreational areas, a school, five commercial complexes, 15.5km of bicycle paths, and 89.48km of pedestrian walkways.
It will be part of the Dh9.3 billion residential project that has been named Al Mizn Neighbourhood by Sheikh Khaled. It will comprise a total of 3,453 villas and cover 9.06 square kilometres.
The housing projects fall under the directives of President Sheikh Mohamed to offer Emirati families high-quality homes, while ensuring stability and security.
Sheikh Khaled toured the North Bani Yas development on Tuesday and reviewed the design plan for the Al Mizn Neighbourhood.
Earlier this year, he approved a Dh2.18 billion housing benefits package to help 1,502 Emiratis.
It will exempt senior citizens, retired people with limited incomes and families of the deceased from housing loan payments, amounting to more than Dh98 million for 95 Emiratis.
Since 2012, more than 4,000 citizens have benefited from housing loan exemptions amounting to more than Dh149 billion.
In March, Sheikh Khaled approved the Dh3.5 billion Yas Canal project for Al Raha Beach, offering 1,146 villas by the last quarter of 2027.
The Abu Dhabi Housing Authority, since its establishment in 2012, has overseen the allocation of more than 40,000 residential plots, ensured the completion of over 16,000 houses and approved 49,000 housing loans.
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Day 3, stumps
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Australia 151
India lead by 346 runs with 5 wickets remaining
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Price, base / as tested Dh174,500
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Fifa Club World Cup quarter-final
Esperance de Tunis 0
Al Ain 3 (Ahmed 02’, El Shahat 17’, Al Ahbabi 60’)
Generational responses to the pandemic
Devesh Mamtani from Century Financial believes the cash-hoarding tendency of each generation is influenced by what stage of the employment cycle they are in. He offers the following insights:
Baby boomers (those born before 1964): Owing to market uncertainty and the need to survive amid competition, many in this generation are looking for options to hoard more cash and increase their overall savings/investments towards risk-free assets.
Generation X (born between 1965 and 1980): Gen X is currently in its prime working years. With their personal and family finances taking a hit, Generation X is looking at multiple options, including taking out short-term loan facilities with competitive interest rates instead of dipping into their savings account.
Millennials (born between 1981 and 1996): This market situation is giving them a valuable lesson about investing early. Many millennials who had previously not saved or invested are looking to start doing so now.
