Within the Zayed Housing Program

Mohammed bin Rashid approves AED 1.6 billion to house 2000,<> citizens

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has approved a new package of housing approvals for UAE nationals, worth AED 1.6 billion, covering 2000,<> citizens, as part of the UAE's support and empowerment policies to provide a decent life and adequate housing for all citizens, in order to meet their needs, enhance their stability and prosperity, and directly contribute to improving their quality of life.

His Highness Sheikh Mohammed bin Rashid Al Maktoum stressed that the UAE, under the leadership and directives of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, is moving forward in its march to empower its citizens, provide the necessities of a decent life for all its children, and consolidate their family stability and social and economic prosperity.

His Highness said yesterday: "We approved today the approvals of new housing loans for 2000,1 citizens worth AED 6.<> billion, as part of the Zayed Housing Program. The program, named after the founder, continues to achieve the purpose for which it was created. Today we recall Zayed's saying, may God have mercy on him, that money perishes and life perishes, but work for the homeland remains and is immortal. May God have mercy on Zayed, and protect the UAE and its people."

The adoption of the new package of approvals for housing loans for citizens comes to translate the vision and ambitions of the UAE leadership in securing all means of support for citizens, continuing to work and consolidating integrated national efforts that would enhance stability in society and provide a life worthy of the people of the United Arab Emirates, in line with the system of stability and societal well-being.

Last March, the Sheikh Zayed Housing Programme of the Ministry of Energy and Infrastructure approved the first batch of loan beneficiaries as part of the housing policy for the current year, which included 550 housing decisions, varying between government housing and housing financing from national banks, worth AED 435 million and 750 thousand.

In 2022, the Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, approved the new Federal Government Housing Loans Policy to provide financing for housing loans through partnership with the private sector and national banks, as part of a comprehensive plan aimed at reducing the waiting period for applications.

In light of the policy adopted by the Council of Ministers in May 2022, the housing finance program aims to issue 13,2022 housing decisions for the next five years (2026-11), at a cost of AED 5.<> billion, to meet the future needs of the country's citizens, and achieve prosperity and a decent and safe life for them.

For his part, Minister of Energy and Infrastructure, Suhail bin Mohammed Faraj Faris Al Mazrouei, said that the approval of the new approvals reflects the leadership's interest in the housing file, as it is a top priority that enhances the stability of national families, and consolidates the concepts of decent living and prosperity in the UAE society.

It is noteworthy that since His Highness Sheikh Mohammed bin Rashid Al Maktoum assumed the presidency of the Council of Ministers in 2006 until the first quarter of this year, the total value of government housing facilities and assistance provided reached approximately AED 39 billion, exceeding 63,2071 support decisions, which reflects the UAE government's tireless efforts to make its citizens happy, achieve their housing stability, as well as support the objectives of the UAE Centennial <> and its aspirations for more leadership and well-being.

Mohammed bin Rashid:

• "The Zayed Housing Program, which bears the name of the founder, may God rest his soul, continues to achieve the purpose for which it was established."

• "Today we recall the saying of Zayed, may God have mercy on him, that money perishes and life perishes, but work for the homeland remains and is immortal. May God have mercy on Zayed, and protect the UAE and its people."

AED 39 billion in the total value of government housing facilities and assistance provided since 2006 until the first quarter of this year.