Dubai Ruler Allocates AED5.2 BILLION For Land Plots And Homes For Emiratis
His Highness Sheikh Mohammed bin Rashid Al Maktoum has approved the allocation of 4,000 land plots and houses to citizens of Dubai at a cost of AED5.2 billion, as part of the first phase of an Emirati housing programme.
He also raised the limit for interest-free housing loans to AED1 million for eligible categories. H.H. Sheikh Mohammed said housing and social infrastructure projects represent one of the government’s highest priorities according to Wam.ae
Our housing projects are developed after taking into consideration the needs of the entire family as part of our efforts to create an environment that promotes social welfare and cohesiveness,” His Highness said. “We will continue to implement high-quality housing projects to provide a decent life to our citizens.
– HH Sheikh Mohammed
اعتمدنا اليوم رفع قيمة القرض السكني للمواطنين في دبي إلى مليون درهم .. ووجهنا بالبدء الفوري لمباشرة تخصيص 4000 قطعة أرض ومسكن للمواطنين بتكلفة 5.2 مليار درهم .. كما ذكرنا سابقاً سأتابع مع حمدان ومكتوم سياسة الإسكان بنفسي خلال الفترة القادمة ..
— HH Sheikh Mohammed (@HHShkMohd) September 27, 2021
The number of citizens benefiting from the housing programme will quadruple thanks to the new initiative
Along with that H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and Deputy Prime Minister and Minister of Finance commented: “The development of a comprehensive housing plan for Dubai citizens over the next 20 years reflects a long-term vision for addressing the aspirations of Emirati families. Our housing development plans not only aim to enhance lifestyle standards by improving the quality of construction and services, but also strengthen social wellbeing and cohesiveness,” His Highness noted.
This follows, H.H. Sheikh Mohammed bin Rashid approving the allocation of AED65 billion to an Emirati housing programme in Dubai. The budget will be spent over the next two decades to provide quality housing for Emiratis.