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UAE: Kingdom still needs 6 million housing units, 55,000 on the way

Posted on 13 October 2008

From Saudigazette.com.sa: Fahd Bin Abdul Mohsin Al-Rasheed, Chief Executive Officer of Emaar, the company contracted to build the King Abdullah Economic City in Rabegh, has said that a new housing project will provide homes for 55,000 people of medium income.

The project will be put out for tender next year when its designs are completed, Al-Rasheed added. The senior Emaar official, speaking during the last day of Dubai’s Cityscape exhibition on Thursday, put the value of the whole Economic City project at SR375 billion, which accounts for infrastructure and properties following the area extension to 168 million square meters….. Full Article: Source


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