Thursday 21 October 2021

Dubai allocates 4,000 land plots, residential units to citizens

DUBAI, 22 days ago

In his capacity as Ruler of Dubai, Vice President and Prime Minister of the UAE HH Sheikh Mohammed bin Rashid Al Maktoum has approved the allocation of 4,000 land plots and houses to the emirate's citizens at a cost of AED5.2 billion ($1.4 billion), as part of the first phase of an Emirati housing programme.
He has also raised the limit for interest-free housing loans to AED1 million for eligible categories.
Sheikh Mohammed pointed out that housing and social infrastructure projects represent one of the government’s highest priorities. 
"Our housing projects are developed after taking into consideration the needs of the entire family as part of our efforts to create an environment that promotes social welfare and cohesiveness," he stated. "We will continue to implement high-quality housing projects to provide a decent life to our citizens," he added.
He also issued directives to quadruple the number of citizens benefiting from the housing programme, effective from next year, and to increase the total area of land plots allocated to these housing projects in Dubai to 1.7 billion sq ft, which will help meet the demand from citizens over the next 20 years.
Recently, Sheikh Mohammed had approved the allocation of AED65 billion to an Emirati housing programme in Dubai. The budget will be spent over the next two decades to provide quality housing for Emiratis.


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