His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice-President and Prime Minister of the UAE, has given his approval to a housing loan package benefiting 2,000 UAE citizens.
This package, valued at AED 1.6 billion, is being implemented under the Sheikh Zayed Housing Programme.
— HH Sheikh Mohammed (@HHShkMohd) May 28, 2023
In 2022, under the leadership of His Highness Sheikh Mohammed, the Council of Ministers approved a new policy for federal government housing loans. The policy aims to provide financing through partnerships with the private sector and national banks, as part of a comprehensive plan to reduce the waiting period for housing loan applications.
The program’s objective is to issue 13,000 housing decisions over a five-year period, from 2022 to 2026, with a total cost of AED 11.5 billion. This initiative aims to meet the future housing needs of the UAE citizens, ensuring their prosperity and a decent, secure life for the population.