Sheikh Mohammed approves $8.7bn homes plan for Emiratis

Following the directives of President Sheikh Khalifa bin Zayed Al Nahyan, the homes will be delivered up until 2025
Sheikh Mohammed approves $8.7bn homes plan for Emiratis
Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai is shown the plans for the housing.
By Sam Bridge
Mon 25 Feb 2019 06:15 PM

Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has approved the construction of 34,000 housing units for Emiratis across the UAE at a total cost of AED32 billion ($8.71 billion).

Following the directives of President Sheikh Khalifa bin Zayed Al Nahyan, the homes will be delivered up until 2025, state news agency WAM reported on Monday.

Sheikh Mohammed has also given directives to raise the value of salary ceiling of beneficiaries obtaining support from the Sheikh Zayed Housing Programme from AED10,000 to AED15,000.

He also directed to raise the value of housing loans for citizens in government residential neighbourhoods from AED800,000 to AED1.2 million as a maximum loan amount, depending on the value of the premises, WAM added.

The decisions came during an inspection tour conducted by Sheikh Mohammed on Monday, during which, he visited a number of housing projects and road infrastructure projects in Ras Al Khaimah.

During the tour, he said: "We have pledged, from the beginning, to ensure that every UAE citizen is provided with a home, and that no area is left undeveloped.

"We want higher levels of competitiveness between government sectors for the benefit of Emiratis. The Sheikh Zayed Housing Programme holds a special value providing necessary services to Zayed's children," he said.

He added: "UAE citizens deserve the country's full attention, because of their continued sacrifices to the nation's development.

"Our first, second and third focus is on Emiratis, and we will not be sidetracked from ensuring a sound quality of life for all citizens."

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