UAE to spend $1.36bn on new homes for 10,000 Emiratis

Plans were announced during Sheikh Mohammed’s tour of the northern emirates
UAE to spend $1.36bn on new homes for 10,000 Emiratis
HH Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai.
By WAM
Wed 27 Nov 2013 10:12 AM

The UAE government is to spend AED5bn ($1.36bn) building new homes for 10,000 Emiratis, the WAM news agency announced on Tuesday.

The plans were announced by the UAE Vice President and Prime Minister and Ruler of Dubai, HH Sheikh Mohammed bin Rashid Al Maktoum, during a field tour to the northern eastern regions of the UAE on Tuesday morning.

Sheikh Mohammed commenced his tour at the residential complex project at Al Seouh district in Sharjah, where he was briefed by the Zayed Housing Programme (ZHP) on their activities in the region. The environment-friendly residential project is around 63 percent complete, with 406 residences built at a cost of AED301m.

He toured the Khalifa residential complex in Dibba Fujairah area, where he inspected 384 houses built at a cost of AED350m. The Dubai leader also surveyed the Khalifa residential complex in the Dibba Fujairah area, where 384 homes are being built at a cost of AED350m, as well as three residential projects in Ajman, Ras Al Khaimah and Umm Al Qaiwain, where homes for 1,200 citizens, at a cost of AED1.2bn, are currently underway.

The newly announced residential complex, which will provide homes for 10,000 citizens, will be named the "Union Complex".

"The best is coming and we will not stop working because the UAE was founded on the self-denial, optimism and cohesion between the leadership and people," Sheikh Mohammed was quoted as saying.

For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.