An associate company of Emaar Properties will soon launch an affordable housing project in the UAE, the company chairman told Emirates 24|7.
“There is an internal discussion on Dawahi Development. We have an associate company that may be taking on that responsibility and I think they might be announcing something soon in the UAE,” said Mohamed Alabbar, chairman, Emaar Properties.
"It is going to take care of that level of market (middle income market),” he stated without giving any price range for the products.
In October 2011, Emaar Properties had announced the launch of its new wholly-owned subsidiary, Dawahi Development, a next-generation developer of ‘value housing’ projects within full-service community developments.
Dawahi Development will develop value homes at attractive price points in key emerging markets across the Middle East & North Africa (Mena), while also creating employment and business opportunities for the local population, the developer had said.