Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, has announced an initiative to support Dubai’s affordable housing policy.
The first phase of the arrangement, Sheikh Hamdan said, will involve the development of tens of thousands of homes across Dubai spanning more than a million square metres. These homes are intended for skilled professionals of various nationalities in the public and private sectors, he added.
The homes will be built in Dubai's Muhaisnah 1, Al Twar 1, Al Qusais Industrial Area 5 and Al Leyan 1.
The agreement was signed by Dubai’s Roads and Transport Authority, Dubai Municipality and Wasl Group. It supports the Dubai 2040 Urban Master Plan.
“The first phase, covering six areas across Dubai and spanning 1.46 million square metres, will see the development of more than 17,000 homes for skilled professionals of various nationalities working across public and private sectors,” Sheikh Hamdan wrote in a post on X.
“Our goal is to offer quality housing that improves living standards for Dubai’s workforce and strengthens its status as one of the world’s best cities to live and work.”
Building for the future
Last week, Sheikh Hamdan inspected sites in Wadi Al Amardi and reviewed plans for other developments, amounting to more than 1,100 homes.
The three other sites are in Al Aweer, Hatta and Oud Al Muteena, with a total investment of Dh2 billion. The projects are in line with the Mohammed bin Rashid Housing Establishment’s work to support Emirati well-being.
A total of 1,163 houses are under construction: 432 in Wadi Al Amardi valued at Dh767.9 million, 398 in Al Aweer valued at Dh734.1 million, 213 in Hatta valued at Dh508.5 million, and 120 in Oud Al Muteena valued at Dh113.8 million.
Loan payments
Also last week, Sheikh Hamdan chaired a meeting of the Higher Committee for Development and Citizens Affairs in Dubai.
During the meeting, he announced that 426 citizens in the emirate would be exempted from housing loan payments worth a total of Dh146 million. He also announced the launch of the Thukhr initiative, which will honour Dubai’s retirees for their contributions to the emirate.
He later witnessed the launch of the Barwa programme. Developed by the Dubai Land Department and the Community Development Authority, it is aimed at empower senior citizens and those with disabilities to manage their properties independently and with ease.
What are the GCSE grade equivalents?
- Grade 9 = above an A*
- Grade 8 = between grades A* and A
- Grade 7 = grade A
- Grade 6 = just above a grade B
- Grade 5 = between grades B and C
- Grade 4 = grade C
- Grade 3 = between grades D and E
- Grade 2 = between grades E and F
- Grade 1 = between grades F and G
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
The specs
Engine: 3.0-litre six-cylinder turbo
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Transmission: Eight-speed auto
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On sale: December
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ESSENTIALS
The flights
Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.
The hotels
Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.
The tours
A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages.
How it works
Each player begins with one of the great empires of history, from Julius Caesar's Rome to Ramses of Egypt, spread over Europe and the Middle East.
Round by round, the player expands their empire. The more land they have, the more money they can take from their coffers for each go.
As unruled land and soldiers are acquired, players must feed them. When a player comes up against land held by another army, they can choose to battle for supremacy.
A dice-based battle system is used and players can get the edge on their enemy with by deploying a renowned hero on the battlefield.
Players that lose battles and land will find their coffers dwindle and troops go hungry. The end goal? Global domination of course.
