Aldar Properties PJSC is to build a 16,000 capacity workers residential city in Al Ain at a cost of Dh 500 million, it said today at Cityscape Abu Dhabi.
Aldar announced an agreement with the Higher Corporation of Specialised Economic Zones (ZonesCorp), which promotes and develops economic investment in Abu Dhabi.
Aldar will develop a total of eight clusters, six of which will include seven residential blocks with a main dining hall and open green spaces. The remaining two will consist of a central kitchen, shopping mall, medical clinic, administration building and a mosque.
Studies have been conducted to ensure the infrastructure can handle expected traffic and population numbers. Aldar will begin work immediately on the development, which will be completed in phases up to 2009. The Al Ain project complements an initial agreement to develop a similar residential city in Abu Dhabi.
Ahmed Ali Al Sayegh, chairman of Aldar said in a statement ‘The agreement signals a commitment to the innumerable hard workers of Al Ain and the United Arab Emirates. It is important that the various types of workers are housed properly and their accommodations are maintained carefully as they are a very important aspect in the development of our country. ALDAR will ensure that the standard of the residential cities are on par with the organization’s other high quality projects. The residential city will address the issue of rapid growth and development”.
Jaber Hareb Al Khaili, Acting CEO of ZonesCorp said the residential city will provide ‘much needed quality accommodation for the town’s workers’ and that global standards would be applied throughout the project. ‘We are in consultation with major industry leaders to ensure the best possible quality. We understand the vision of the country’s leaders and we intend to ensure that we build a secure and stable community,’ he said.
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