President Sheikh Mohamed orders delivery of Dh2.3bn housing loans for Emiratis
He calls for all pending applications through the Sheikh Zayed Housing Programme to be completed
President Sheikh Mohamed has ordered Dh2.3 billion of grant applications made to the Sheikh Zayed Housing Programme to be finalised.
The move is in line with a long-standing vision to provide decent living conditions for Emiratis and enhance their quality of life and falls under the initiatives of the President.
Suhail Al Mazrouei, Minister of Energy and Infrastructure, said all pending applications for funding assistance will be processed in the next five years.
This includes requests for construction, upgrades and maintenance.
Mr Al Mazrouei said his ministry would work with the Follow-Up Committee of the Initiatives of the UAE President to carry out the directives within the five-year time frame.
He said the policy was testament to the President’s determination to meet the needs of the country’s citizens.
The UAE last month announced plans to support thousands of Emiratis as part of its housing strategy.
Thirteen thousand Emirati families living in the Northern Emirates will be eligible for interest-free home loans under the government plan.
A total of Dh11.5 billion ($3.1bn) will be given to families in Sharjah, Ajman, Ras Al Khaimah, Umm Al Quwain and Fujairah in the first phase of the plan, which will take place between 2022 and 2026.
Emiratis must submit requests to the Ministry of Energy and Infrastructure to obtain housing loans through the Sheikh Zayed Housing Programme
The project was announced by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, on May 9.
The Sheikh Zayed Housing Programme was established in 1999 and provides interest-free loans repayable over a 25-year period to citizens with low incomes.
Grants and non-reimbursable assistance are dispensed to those who most need support.
The Sheikh Zayed Housing Programme gives priority to orphans, widows, aged people and people with special needs.