Abu Dhabi’s Ohana says self-funding projects offer full development control

Abu Dhabi-headquartered Ohana Development will self-fund the 15 billion UAE dirham (approximately $4.08 billion) Manchester City Yas Residences project, giving the private developer what it says is full control over the development lifecycle. Chief Operating Officer Mustafa El Sammak told Zawya Projects that groundbreaking along the Yas Canal is planned for June 2026, enabling works will follow, and the gated waterfront community will be delivered in two phases with roughly a six-month interval between them. The developer recorded $1.63 billion in sales within 72 hours of the project’s launch, and handovers are targeted to begin in 2029.

“The project is funded through direct shareholder investment. Our approach from the beginning has been to avoid relying on external debt,” El Sammak said.

Project structure and delivery

Ohana has positioned the Manchester City Yas Residences as a branded, family-oriented community focused on active lifestyles, located on Yas Canal within Yas Island's broader leisure ecosystem. El Sammak highlighted the company's vertically integrated model — from masterplanning to construction — as a core advantage in meeting timelines and maintaining quality.

• Main construction contract awarded to Ohana’s in-house contracting arm, allowing direct control over execution and procurement.
• In-house architectural and engineering division responsible for design, with public spaces and community facilities organised to encourage daily activity.
• More than 50 percent of the development dedicated to landscaped areas, parks and open green spaces intended to improve microclimate and residents’ quality of life.
• Delivery split into two phases to maintain construction efficiency and enable smooth handovers for buyers, with a roughly six-month gap between phases.
• Handovers are targeted to start in 2029, with the phased approach providing flexibility to respond to market demand.

El Sammak framed self-funding as both a financial discipline and a signal of accountability. “We are investing directly in what we build, and that accountability carries through at every stage,” he said, underlining Ohana’s intention to keep decisions driven by value creation rather than lending conditions or external pressures.

Cost environment and competitive stance

The COO acknowledged upward pressure on material and labour costs in the UAE market but argued Ohana’s vertical integration cushions the impact. “Because of our vertical integration and in-house contracting platform, we are positioned to absorb that pressure more effectively than most,” El Sammak said, pointing to direct supplier relationships, procurement visibility and full oversight of the construction process as levers to control costs without compromising quality.

Outlook

Looking ahead to 2026, El Sammak expressed confidence in Abu Dhabi’s off-plan market and the broader real estate environment. “The fundamentals are strong, the regulatory environment is progressive and the long-term economic vision is clear,” he said, adding that Ohana remains committed to the market for the long term. With self-funding and in-house delivery capabilities, the developer said it is focused on meeting its 2029 handover target while maintaining standards across design, sustainability and execution.