Abu Dhabi - MENA Herald: ZonesCorp announces that the first part of Razeen Worker Residential City - ‘Razeen A’ will be offered to investors interested in owning and operating worker residential cities. With 10 years of experience managing worker residential cities in Abu Dhabi, ZonesCorp is uniquely qualified to supervise the development of Razeen. This project lays the foundations for a strategic partnership between the public and private sectors.
This announcement comes following a visit to Razeen ‘A’ by HE Falah Al Ahbabi, Chairman of ZonesCorp and HE Saeed Eisa Al Khyeli, Director General along with the ZonesCorp board of directors and the executive directors of Razeen City.
HE Falah Al Ahbabi commented: “Zonescorp is working together with its partners in the government sector to finish the infrastructure of Razeen city so it can be operational before the end of the year.”
Al Ahbabi added: “Building on the success of previous residential cities, the Government of Abu Dhabi has invested a significant amount in building the Razeen Residential Cities. Worker Residential Cities present an excellent investment opportunity for the private sector and building public private/partnerships through projects such as this make an important contribution to diversifying the economy and Abu Dhabi 2030 Vision.”
Al Ahbabi also mentioned: “Razeen city has the capacity to accommodate 25,000 workers and is in a strategic location 30 km away from the Industrial City of Abu Dhabi, south of Al Wathba on the Al Ain Truck Road.”
HE Saeed Eisa Al Khyeli, commented: “Zonescorp has considerable experience regulating worker residential cities alongside the private sector and currently oversees 28 cities that house over 450,000 workers from the industrial sector.”
HE added: “Zonescorp will start advertising the tender process in the local media for Razeen A in due course. Our aim is to ensure an open and transparent process of finding reliable partners who will operate the cities according to our internationally recognised standards. Demand for housing outstrips supply in this segment of the market as a result of rapidly growing industrial / manufacturing sectors and therefore represents an excellent opportunity for investors, particularly due to its close proximity to the Industrial City of Abu Dhabi.”
One of ZonesCorp’s key priorities is ensure better living conditions for all workers in the industrial sector in the Emirate. The Corporation has invested AED- 11bn to develop 28 residential cities for workers, which house over 450,000 people and are constructed to the highest global standards and provide a full range of services and infrastructure.
The Industrial Zones cover an area of over 48m sqm and currently houses over 650 industrial facilities. Since its inception ZonesCorp has attracted AED-29bn worth of investment from local and international companies into its Economic Zones thanks to its world-class infrastructure and transport links and business friendly, tax free environment.