Dubai ruler and prime minister of the United Arab Emirates, Sheikh Mohammed bin Rashid Al Maktoum has given approval for the allocation of $17.6 billion to a housing program for Emirati citizens in Dubai. The money will be spent over the next two decades, according to a statement from the Dubai Media Office.
Sheikh Mohammed issued directives to quadruple the number of Emiratis benefiting from the housing program from next year, and to increase the land plots allocated to Emirati housing projects in Dubai to 1.7 billion square feet.
“We are working to develop a comprehensive plan for ensuring our citizens have access to high quality housing over the next 20 years,” said Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, deputy ruler of Dubai. “Dubai’s urban development plans are subject to constant review and our housing policy will continue to evolve according to the requirements of our citizens.”
The Dubai 2040 Urban Master Plan sets out a comprehensive future map for sustainable urban development in the city, and focuses on enhancing people’s happiness and quality of life in line with the UAE’s vision for the next 50 years.