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Sat 14 Dec 2019 01:02 AM

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Sheikh Zayed Housing Programme eyes $6bn investment by 2025

The number of homes expected to be delivered by 2025 for Emirati citizens is 17,873

Sheikh Zayed Housing Programme eyes $6bn investment by 2025

The cost of the programme’s future projects is expected to total AED22.32 billion over the next five years.

Sheikh Zayed Housing Programme, which seeks to meet the residential needs of Emirati citizens, aims to invest over AED22 billion ($6 billion) over the next five years.

The number of homes expected to be delivered by 2025 is 17,873 costing AED17.32 billion, along with 5,134 houses in residential neighbourhoods already under construction.

The cost of the programme’s future projects is expected to total AED22.32 billion over the next five years, according to Dr Abdullah bin Mohammed Belhaif Al Nuaimi, Minister of Infrastructure Development and chairman of the Sheikh Zayed Housing Programme.

In comments published by state news agency WAM, he revealed that the programme has issued over 67,000 housing aid decisions around the country costing AED17.5 billion since its inception in 1999, which include loans and grants to build new houses and maintain existing houses.

He said that the value of housing support decisions made this year until October amounted to AED2.8 billion.

He added that in 2019 nearly 14,000 residential units in four housing neighbourhoods have started and are expected to be delivered in 2020 and 2021, adding that the programme aims to construct another 13,200 housing units in 2020.

The programme aims to meet sustainability standards related to residential neighbourhoods, through reducing water consumption by 40 percent and electricity consumption by 20 percent.

Founded by Sheikh Zayed bin Sultan Al Nahyan, the late founding father, Sheikh Zayed Housing Programme aims to meet the current and future residential needs of Emirati citizens.

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