Low down on affordable housing in Abu Dhabi

Mubadala Development has inked a deal with Pramerica Real Estate Investors to create a joint a venture that will invest in middle-income housing in Abu Dhabi, as well as to make wider investments around the world. The move is significant because it provides a welcome addition of financing for the ailing property sector, where developers are struggling to find financing and potential home buyers are reticent to sign on the dotted line.