ZonesCorp, the largest developer and operator of purpose-built industrial zones in the UAE, has announced 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, said the Abu Dhabi-based company.

This project lays the foundations for a strategic partnership between the public and private sectors, it stated.

ZonesCorp said one of its key priorities is to ensure better living conditions for all workers in the industrial sector in Abu Dhabi.

The corporation has invested Dh11 billion ($3 billion) 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, it added.
 
This announcement comes following a visit to Razeen ‘A’ by Falah Al Ahbabi, the chairman of ZonesCorp, and Saeed Eisa Al Khyeli, the director general along with the ZonesCorp board of directors and the executive directors of Razeen city.
 
“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,” remarked Al Ahbabi.
 
“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,” stated Al Ahbabi.
 
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 added.

Al Khyeli said Zonescorp had 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.
 
Zonescorp, he stated, 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," observed Al Khyeli.

"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," he added.-TradeArabia News Service