SZHP grants housing subsidies worth $112m for Emiratis
The UAE's Sheikh Zayed Housing Programme is currently working on three residential districts in Ajman, Dubai, and Ras Al Khaimah
The UAE's Sheikh Zayed Housing Programme (SZHP) has approved 522 housing assistance applications, including housing loans and grants, worth $111.6m (AED410m) for UAE citizens, in line with the directives of President HH Sheikh Khalifa bin Zayed Al Nahyan, and Vice President and Prime Minister of the UAE and Ruler of Dubai, HH Sheikh Mohammed bin Rashid Al Maktoum.
SZHP is currently managing the construction of three residential districts in the UAE, including Ajman's $272m (AED1bn) Al Montazi complex containing 761 homes.
The project is being constructed and will be maintained by China State Construction Engineering Company Middle East (CSCEC ME) and Dubco Construction, with delivery due in 2020.
SZHP is also overseeing the construction of 341 residences at Dubai’s Tolerance Village, and 888 residences at Ras Al Khaimah’s Bateen Al Samar residential district along Sheikh Mohammed bin Zayed Road's Exit 122, which is being worked on by Aswar Engineering & General Contracting Co.
Commenting on the decision to grant housing subsidies, the UAE's Minister of Infrastructure Development and chairman of the board of directors of the SZHP, Dr Abdullah bin Mohammed Belhaif Al Nuaimi, said: “We, in the UAE, are keen to ensure social cohesion through the initiatives implemented by the programme, in cooperation with housing institutions around the UAE.”