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.
Dubai approves $17.7 billion over 20 years for citizens’ housing
1 min read
- The government intends to increase the number of beneficiaries fourfold.
- In 2020, Abu Dhabi government announced $2 billion worth of housing loans, homes and land to more than 6,100 citizens.
SPEEDREAD
Today's Headlines
The most important news stories of the day, curated by Post editors and delivered every morning.
By signing up you agree to our Terms of Use and Privacy Policy.
Most Read
Dubai, Abu Dhabi real estate market thrives in Q1 2024
Tesla to unveil robotaxi in August
CBI, zypl.ai ink partnership
Germany shares observations on Qatar hosting Autonomous e-Mobility Forum
Exports key target of GCC hydrogen strategies
Abu Dhabi targets 39.3 million visitors by 2030
Special economic zones are a new craze in Middle East