Abu Dhabi launches initiative to provide cheaper housing for low-income earners

ABU DHABI: Abu Dhabi has launched an initiative for low-income earners to have access to affordable housing and eliminate congestion in bachelors’ accommodations.
The Department of Municipal Affairs and Transport said the move would provide high-quality and affordable accommodations for low-income groups at monthly rents ranging from Dh917 to Dh1,563.
The municipality likewise said the scheme would allow individual landlords, developers and investors to construct new buildings or convert their existing properties to residential units for low-income earners.
“This will bridge the gap between supply and demand, offer property owners a return on investment of between 21 and 28 percent a year, save about Dh4 million in total building costs, and reduce the construction period by as much as eight months,” the agency said in a statement.
The scheme will be focused on two categories of occupants: the first are low-income workers earning a monthly salary of Dh4,000 to Dh6,000 where rent would range from Dh1,400 to Dh2,100 per month; the second are those earning between Dh2,000 to Dh4,000 a month and where rental rates would be between Dh700 and Dh1,400 a month.
“The initiative is in line with the vision of the Abu Dhabi government aimed to provide all means of decent and stable living for all spectrums of the community. It will also offer support to fixed-income groups by ensuring them accommodation at affordable rents that is commensurate with their annual income levels,” Musabbah Al-Murar, Acting General Manager of Abu Dhabi City Municipality said.
“This trend is gathering momentum, thanks to the positive co-operation of property owners and developers … which at the end of the day serves the interest of community members and provides a stable and decent living to all residents,” he added.