Dubai approves $17.7 billion over 20 years for citizens’ housing

DUBAI: Over the next 20 years, Dubai will spend 65 billion dirhams ($17.7 billion) to provide housing for UAE citizens through the citizens’ housing program, Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum said on Wednesday.
“Decent housing is a dignity and a right for all… A decent life for the people of the country is the first priority for the government,” said Al Maktoum, who is also the vice-president and prime minister of the UAE.
He added that the government has adopted an integrated housing policy and that they intend to multiply the number of beneficiaries fourfold.
UAE nationals are entitled to free housing, housing loan and land allocation under an existing housing program.
In November last year, Abu Dhabi’s government announced $2 billion worth of housing loans, homes and land to more than 6,100 citizens.
The package involved 3,099 plots of land, 2,000 housing loans and 601 homes, which were granted to citizens in Abu Dhabi, Al Ain and Al Dhafra. Some retirees and families of deceased citizens were also exempted from mortgage repayments.