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Friday, 09 September 2022

As Part Of The New Housing Policy, Zayed Housing Program Approves 573 New Housing Decisions Totalling AED 457 Million

Represented by Sheikh Zayed Housing Program, the Ministry of Energy and Infrastructure announced the approval of the third batch of loans as part of the new housing policy, which includes 512 new loans worth AED 408 million. It also passed decisions for 61 beneficiaries of government housing for AED 49 million, bringing the total of what was announced during the three months since the rollout of the new housing policy last July to 1516 housing finance loans with a total value of one billion and 208 million dirhams. These figures indicate that the program is on course to reach the 3000 target beneficiaries of loans throughout this year, at a rate of 500 housing decisions per month.

HE Eng. Mohamed Al Mansoori, Director of Sheikh Zayed Housing Program, highlighted that the total government housing decisions issued by the program, during the years 2022-2021, amounted to 1,002 housing support decisions, both as loans and grants, with around AED 802 million in value. He added that the program continuously spares no efforts to put the directives of the wise leadership into action pursuant to a comprehensive plan aimed at regulating the housing sector to achieve the welfare and stability for Emirati families. Al Mansoori explains that the state is making great efforts to serve its citizens, and this requires us to work hard and use all potentials to achieve the aspirations of our judicious government that considers people a top priority.

He stressed that the directives of the wise leadership, headed by HH Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, God bless him, and his brother, HH Sheikh Mohamed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and their brothers, Their Highnesses, members of the Supreme Council of the Union, Rulers of the Emirates have greatly contributed to setting the housing sector in order for the next five years and overcoming the challenges facing the sector.

Al Mansoori indicated that the UAE is working according to an integrated national strategy to develop the housing sector across all the regions of the country. Through this strategy, it serves its citizens, maintains stability and prosperity, and supports its objectives for the coming fifty years and its global leadership until to the 2071 centennial, especially as the housing sector is one of the most important paths in the development model and a key driver of the entire sustainable development process.

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