Sheikh Mohammed says Dhs 1 billion housing approvals benefited 1,300 citizens

His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, stated that the UAE continues to enhance its housing system to support citizens and address their needs promptly and effectively.

Sheikh Mohammed said that approvals issued in January under the Sheikh Zayed Housing Program benefited over 1,300 citizens with a total value exceeding Dhs1 billion.

He added that efforts are underway to increase the number of beneficiaries throughout the year to address all pending applications.

Reflecting on achievements in the housing sector over the past two years, Sheikh Mohammed noted that 13,000 applications were processed and approved, with the current waiting period reduced to just two months – a timeline that ranks among the shortest globally.

He further underlined the UAE’s commitment to fostering family stability through continuous improvements in housing services, emphasising the development of an integrated system to streamline approvals across funding and housing entities.

The aim, he said, is to eventually enable approvals within a single day.

The UAE remains committed to advancing its national housing system through comprehensive strategies that ensure sustainability in the delivery of housing services, with the Sheikh Zayed Housing Programme playing a central role in realising this vision.

Since its establishment in 1999, Sheikh Zayed Housing Programme has committed to enhancing citizens’ well-being and the quality of life for Emirati families through sustainable housing solutions. Owing to the future-oriented vision of the wise leadership, the Programme has made notable achievements that have touched the lives of thousands of people.

The Ministry of Energy and Infrastructure (MoEI), represented by the Sheikh Zayed Housing Programme, signed a Memorandum of Understanding (MoU) with Ajman Bank in October 2024, to provide enhanced home finance solutions to the programme’s customers.

The partnership aims to streamline the financing process and contribute to the nation’s goal of providing sustainable housing options for its citizens.

Under the MoU, Ajman Bank will offer beneficiaries of the Sheikh Zayed Housing Programme housing loans covering residential properties in the UAE.

In addition, the Bank will offer personal finance, vehicle finance and other services related to the management and investment of the programme’s funds.

Ajman Bank becomes the fifth financial institution to join this initiative, following Abu Dhabi Islamic Bank, Abu Dhabi First Bank, Dubai Islamic Bank, and Emirates NBD.

Recently, Sheikh Mohammed approved the implementation of a series of housing projects worth Dhs5.4 billion to benefit citizens across different areas of Dubai.

The projects will see 3,004 new homes being built for Emirati citizens.

Of these, 1,181 homes will come up in Latifa City for beneficiaries under the housing loan category.

For beneficiaries in the housing grant category, the projects envisage 606 new homes in Al Yalayis 5, 432 homes in Wadi Al Amardi, 398 homes in Al Awir 1, 200 homes in the Makan area of Hatta, 120 homes in Oud Al Muteena, and 67 homes in the countryside and rural areas of Dubai.

Sheikh Mohammed added that major housing initiatives will continue to be part of a comprehensive plan to fulfil the aspirations of citizens for stability and good living standards.

According to the Dubai 2040 Urban Master Plan, housing programmes for citizens in Dubai aim to address future housing needs through optimal planning of available spaces in the emirate.

This is achieved by ensuring the sustainability of available land in keeping with rigorous standards.

A significant effort also goes into ensuring a diverse choice of housing units and communities offering the highest quality of life, with an accent on green spaces, recreational facilities and commercial centres.

WAM