Dubai Ruler announces Dh1 million housing loans for citizens

He reiterated that he would personally follow up on the progress of the policy

Following the approval of a Dh65 billion fund for an Emirati housing programme last week, the Ruler of Dubai on Monday announced housing loans of up to Dh1 million for Emiratis in the city.

“We directed the immediate start of allocating 4,000 plots of land and housing for citizens at a cost of Dh5.2 billion,” said His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, in a post on Twitter.

The UAE VP reiterated that he would personally follow up on the progress of the housing policy, in coordination with Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, and Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Prime Minister and Minister of Finance of the UAE and Deputy Ruler of Dubai.

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>> Dubai villa, apartment prices to rise modestly in coming years

Quality housing is everyone’s basic right and a top priority for the government, Sheikh Mohammed had said earlier. Providing decent shelter to citizens is part of Dubai’s vision to become the world’s best city to live in, he’d added.

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