Aldar Properties PJSC, DMT Form AED 2.8B Joint Venture for 9,000 Rental Homes in Abu Dhabi
Abu Dhabi's Department of Municipalities and Transport (DMT) and Aldar Properties PJSC announced April 17 a strategic joint venture to develop two integrated mixed-use communities in Mohamed Bin Zayed City (MBZ City) and Baniyas, delivering 9,000 value housing rental units across the emirate.
The partnership carries a gross development value of AED 2.8 billion and advances DMT's Value Housing Programme, an initiative designed to expand access to high-quality, affordable housing in line with Abu Dhabi's long-term urban development priorities. Under the agreement, Aldar will lead development, leasing, and management of both communities, with DMT granting long-term leasing rights over the land.
Two Mixed-Use Communities
The first development is strategically located in Baniyas along the Abu Dhabi–Al Ain (E22) highway and will comprise more than 30 residential buildings. The project features a mixed-use offering that includes residential units, retail spaces, recreational amenities, and open green areas.
The second project will deliver a mixed-use residential community in MBZ City, combining single-occupancy accommodation and multi-tenant apartments supported by on-site amenities and ancillary retail to serve residents' day-to-day needs.
Both communities are due for completion in 2029 and are designed to prioritize accessibility and convenience, with direct connections to public transport and major road networks. Residents will have access to professionally managed communities featuring green spaces and essential services.
Aldar Expands Develop-to-Hold Pipeline
The new developments bring Aldar's develop-to-hold pipeline to AED 20.1 billion, which includes a range of residential, commercial, hospitality, and logistics assets across the UAE. The MBZ City and Baniyas projects follow Aldar's recently announced residential communities in Yas Island and Al Shamkha, which were developed in response to high rental demand in key areas of Abu Dhabi.
Partnership Aligns With Abu Dhabi's Urban Housing Priorities
His Excellency Ahmed Fadhel Almehairbi, Director General of Abu Dhabi City Municipality, said the collaboration underscores a shared commitment to the Value Housing Programme. "This partnership with Aldar underscores our shared commitment to advancing the objectives of the Value Housing Programme by delivering high-quality, affordable homes that meet the needs of families and individuals alike and enrich community living," Almehairbi said. "As we welcome the Year of Family, these developments reaffirm our dedication to creating vibrant, inclusive neighbourhoods that strengthen social cohesion."
Jassem Saleh Busaibe, Chief Executive Officer of Aldar Investment, cited Abu Dhabi's population growth as a key driver of the partnership. "As Abu Dhabi's population continues to grow, there is a significant need for new homes to be delivered that cater to a broad range of demographics residing in the Emirate," Busaibe said. "Our collaboration with DMT will ensure thousands of quality rental homes come to the market in well-connected and amenity rich communities, ensuring a fully affordable lifestyle for residents."
The agreement was signed by Almehairbi and Busaibe, with His Excellency Nasser Saleh Farah, Director General of Financial Affairs at the DMT, witnessing the signing.