UAE ratifies $3.26bn loan for Sheikh Zayed Housing Program

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The Cabinet approved a new policy of housing loans programme, according to a mechanism that ensures covering all expected requests for the coming years.
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February 28, 2022 9:37 pm
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  • "The aim is to fulfil accumulated and expected requests and reduce the waiting period during the coming years", said Sheikh Mohammed bin Rashid
  • He said the cabinet also approved the establishment of the Emirates Council for Balanced Development to develop plans, implement projects and build government-private partnerships

The UAE has approved a $3.26 billion housing loan budget for Sheikh Zayed Housing Program in a cabinet meeting on Monday.

The ruler of Dubai, Sheikh Mohammed bin Rashid, who chaired the cabinet meeting, said, “We adopted a housing loans budget of AED 12 billion for Sheikh Zayed Housing Program during the coming years. The aim is to fulfil accumulated and expected requests and reduce the waiting period during the coming years.”

He added that the cabinet has also approved the establishment of the Emirates Council for Balanced Development to develop plans, implement projects and build government-private partnerships.

The council aims to enhance the UAE’s regions in terms of tourism and development and  provide opportunities for citizens.

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