Wednesday 12 June 2024

UAE earmarks $1.36bn for major housing scheme

ABU DHABI, October 3, 2018

The UAE government has allocated around Dh4.8 billion ($1.36 billion) in the 2017-2019 budget for the Sheikh Zayed Housing Programme to provide Emirati citizens with decent living standards and ensure social well-being and the economic welfare in the country.

Under the 2019 federal budget, a total of Dh1.61 billion has been earmarked for the programme, which was almost the same amount allocated as part of the 2018 and 2017 budget, according to figures released by the Ministry of Finance, reported state news agency Wam.

The establishment of Sheikh Zayed Housing Programme in 1999 came as a coronation to the wise policy adopted by late UAE founder, which has been ideally pursued by President HH Sheikh Khalifa bin Zayed Al Nahyan, HH Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister and Ruler of Dubai and Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to ensure decent housing for local families of different economic and social levels, taking into account the priority for special cases, such as orphans, widows, aged people and People of Determination, it added.

Tags: UAE | Budget | Sheikh Zayed Housing Programme |

More Construction & Real Estate Stories

calendarCalendar of Events