Dubai sets aside US $199 million for new houses

Municipality earmarks funds for the construction of 1184 new residential units

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By  Eudore Chand Published  February 5, 2005

Dubai Municipality has earmarked an investment of close to AED 730 million for the construction of 1184 housing units for citizens living in various parts of the emirate. “Providing suitable accommodation for UAE citizens is one of Dubai government’s top priorities,” says Qassim Sultan, director general of Dubai Municipality. The spending on housing is an on-going process, with the municipality already having spent AED373.9 million between 2002 and 2004 on building 968 houses for nationals. A Dubai Municipality report said the civic authority has another 175 units under construction, which will cost some AED 98 million to build. “Another 1009 houses, which will cost around AED 631.4 million, are still under design,” Sultan added. He explained that the civic body has a variety of options and financing plans for the housing units “to suit each citizen’s need according to his financial capabilities and his social and living circumstances”. Sultan said that Dubai Municipality is continuing to provide citizens in different parts of the emirate with plots and houses. It has also undertaken housing projects especially for elderly people, widows and limited income categories. Earlier, a senior municipal official had stated that the municipality will continue to pump in funds in various on-going and new projects, thus ensuring that the construction boom does not run out of steam. The municipality is to spend some US $6 billion (AED 22 billion) in various infrastructure projects to keep the construction sector busy. Funding will be required to cope with the fast-paced development of the emirate on a variety of fronts, said Matar Al Tayer, the assistant director general for roads and general projects affairs. He said the municipality has earmarked $500 million for roads and bridges, up to $4.5 billion for the Rail Project, another $300 million for drainage and irrigation projects and an additional $700 million for general projects. “Dubai Municipality must stay abreast of this continuous on-going growth by providing the necessary infrastructure and facilities and related services,” he explained. “The total annual budget of Dubai Municipality exceeds $350 million with approximately 90% of it allocated to infrastructure development. The scope of infrastructure services and facilities covers the transportation network, the sewage and drainage network, environmental protection projects, parks, sports clubs, educational facilities and public libraries,” added Al Tayer. Dubai’s road network has a total length of some 10 000 lane-km. This required a total investment of $2.5 billion. The road network is under continuous expansion and development with over 20 major new projects costing $500 million in the works, including an 8-lane tunnel under the airport as well as a new 12-lane bridge across the Dubai Creek.

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