UAE's SZHP issued 67,000 housing assets worth $4.8bn since 1999
The housing assets covered loans and grants to build new houses as well as to maintain existing structures
On the sidelines of the UAE’s 48th National Day, the country’s minister of infrastructure development and chairman of the Sheikh Zayed Housing Programme (SZHP), Dr. Abdullah bin Mohammed Belhaif Al Nuaimi said that the programme has issued over 67,000 housing assets valued at $4.8bn (AED17.5bn) comprising loans and grants to build new houses as well as to maintain existing structures, since the programme was established in 1999.
Al Nuaimi said that the programme aimed at fulfilling the housing needs of UAE citizens, reducing waiting period from eight years to several months. He added that the proportion of citizens receiving housing aid exceeded 90% of applications, which was less than 30% when the programme was established
The UAE’s state-held news agency, Wam, cited Al Nuaimi who also said that the value of housing support decisions made in 2019 until October was $762.3m (AED2.8bn), increasing by 740% compared to 2001.
He added that the programme has issued 1,051 housing aid decisions worth $136.1m (AED500m) to senior citizens and people of determination.
The number of completed and delivered individual housing projects since 1999 total 35,000 houses, while houses delivered to UAE citizens through residential neighbourhoods amounted to 1,490, as part of the construction of five neighbourhoods valued at $408.4m (AED.5bn).
According to Al Nuaimi, the programme has been implementing a package of housing projects around the country in 2019 including individual housing of over 11,000 units, and 2,936 houses as part of four housing neighbourhoods that are currently under construction and will be delivered in 2020 and 2021.