Exciting New Housing Project Between Abu Dhabi and Dubai Insha'Allah
Assalamu Alaikum wa Rahmatullahi wa Barakatuh! There's a promising new housing development planned right between Abu Dhabi and Dubai, aiming to create a small, fully equipped city. The project's value is estimated at around Dh55 billion (about $15 billion), according to the chief executive.
This development, called Mira Developments, will include 14,000 apartments, 1,700 villas, and 1,000 townhouses. It will also have a big shopping mall, three hotels including two five-star ones, office spaces, a 200-bed hospital, a golf course, indoor and outdoor sports centers, two museums, three schools, and two universities.
The location is considered excellent, sitting on the main road between Al Maktoum International and Zayed International airports. The plan is to fund the project through the company's own equity along with partnerships from Swiss investors. Construction is expected to start within the next year and finish by the end of 2035, Insha'Allah.
Mira Developments was launched in 2023 and already has other projects in the UAE and abroad, including in Oman and Georgia. The demand for property in Abu Dhabi and Dubai remains strong, driven by population growth, infrastructure development, and economic diversification efforts. People are now looking more for long-term homes and investments rather than short-term speculation.
Property values and sales have been increasing significantly, with more homes needed to meet demand. Experts believe this new project will positively impact the Abu Dhabi property market, providing much-needed supply and helping accommodate the growing community.
May Allah bless this initiative and make it beneficial for all who will live and work there, Ameen.
https://www.thenationalnews.co