Mohammed bin Rashid allocates 4,000 land plots and houses to citizens at cost of AED5.
DUBAI, 27th September, 2021 – In his capacity as Ruler of Dubai, Vice President and Prime Minister of the UAE His Highness Sheikh Mohammed bin Rashid Al Maktoum has approved the allocation of 4,000 land plots and houses to citizens of Dubai at a cost of AED5.
2 billion, as part of the first phase of an Emirati housing programme.
His Highness has also raised the limit for interest-free housing loans to AED1 million for eligible categories.
Sheikh Mohammed said 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,” His Highness said.
“We will continue to implement high-quality housing projects to provide a decent life to our citizens,” he said.
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, said: “Dubai’s policies have always sought to address all aspects of social welfare and we continue to allocate resources to projects that bring happiness and prosperity to our citizens,” His Highness said.
“One of the key focuses of our sustainable development plans is meeting the housing requirements of Emiratis over the next 20 years.
Achieving this objective requires the optimal utilisation of land plots, based on projections for population growth, which is among the major objectives of the Dubai 2040 Urban Master Plan.
Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and Deputy Prime Minister and Minister of Finance said: “The development of a comprehensive housing plan for Dubai citizens over the next 20 years reflects a long-term vision for addressing the aspirations of Emirati families.
Our housing development plans not only aim to enhance lifestyle standards by improving the quality of construction and services, but also strengthen social wellbeing and cohesiveness,” His Highness noted.
Sheikh Mohammed bin Rashid 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.
His Highness 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 Emirati housing projects in Dubai to 1.
7 billion square feet, which will help meet the demand from citizens over the next 20 years.