The largest property development business in Abu Dhabi has focused on building luxury homes over the past two decades. But after getting a great cash liquidity due to a long period of wealth, the “Aldar Real Estate” business began directing its attention to the wealthy housing, low -cost schools and even creating a special financing fund. CEO Talal Al -thiabi said in an interview that the DAR company, which controls prominent parties in Abu Dhabi, has a majority of its shares, offered homes at prices ranging between $ 500 thousand dirhams and $ 3 million (136 thousand -816 thousand dollars) in an attempt to meet the needs of different accesses. The company also aims to develop a rental portfolio that includes common and individual housing for people whose salaries range from 5 thousand and 20 thousand dirhams. The home, as part of its development projects, will be more schools at reasonable prices, as well as stores that meet the needs of families with limited income. To help other construction companies that need financing, they are planning to create a waving fund that offers special loans. United Arab Emirates capital, Abu Dhabi, has attracted billionaires and managers of hedge funds and managers of encrypted currencies over the past year. The influx of expatriates to this city and Dubai, the neighboring, led to the high cost of living and left many workers in financial distress. Also read: Moody’s: A straight view of the real estate market in the Emirates despite the supply of housing and schools that meet the needs of all groups. Al -Thiabi says there is a high demand for low -cost housing and education in this Golf City, which contains a trillion dollar of sovereign wealth, attracting expatriates from all over the world. Al -Thiabi recently said in an interview with him: “The affordable housing represents our main focus in the development and investment sectors, which we think still have a significant shortage of the offer.” He added: “We want to build this project today because we know that the city’s growth means in all levels of purchasing power.” The Abu Dhabi government wants to diversify its economy as it is Disney Entertainment Park, Spare Entertainment Arena, new museums, as well as data centers, which will create jobs and attract thousands of new population over the next five years. All of them will need housing to live in. Read more: Abu Dhabi challenges the decline in the price of oil and continues to expand its most important projects locally at the same time. The DAR company adds luxury homes to Yas Island, where the Ferrari Entertainment Park and the Formula 1 race are due to the fact that the annual fees were about 30 thousand dirhams, compared to 50 thousand dirhams in many other international schools. “Schools usually take from five to six years to reach a draw about profits and losses, but we have currently reached a draw in less than two years,” said Faisal Fenkaz, the group’s financial and sustainability president. A fund to finance real estate developers added that the CEO added that the home, which in 2023, partnered with the Sovereign Wealth Fund “Mubadala” and “Ares Manager” in a $ 1 billion credit fund in London, planned to create a similar unit for real estate. He said that the house would not necessarily have to assign its own money, and that the fund could raise money for it. Al -Thiabi has already received contacts from contractors struggling to obtain credit facilities and issue effects in the region. Property prices were witness to a steady increase in Abu Dhabi. As the prices of apartments have risen by 14% over the past year, according to the JLL mediation. In July, the house announced that it had sold a 400 million Dirham Palace on Saadiyat Island beach, which describes it as the most expensive home ever sold in the city. In a separate context, the Benthaus apartment was sold at the Four Seasons Hotel on Saadiyat Beach by another developer of approximately 200 million dirhams, ie a price of 14 thousand dirhams for the square feet, which set another record for Abu Dhabi for the price of the square foot on Monday, according to the real estate broker “Sothebiz International Realthy”. Earlier this year, the company launched a development project on Fahd Island and will include about 6,000 luxury homes. In June, the company sold real estate worth 3.5 billion dirhams on the island. The company also builds homes, offices and hotels in Dubai and Ras Al Khaimah. The CEO says: “People ask: Are you in an economic bubble?
“Aldar Real Estate” is the diversity of its investments to keep up with the economic transformation in Abu Dhabi
