Wednesday 19 February 2020

$9.5bn housing aid given under Zayed Housing Programme

ABU DHABI, October 8, 2019

The UAE government has processed a total of 62,000 housing support applications worth more than Dh35 billion ($9.5 billion) under the Sheikh Zayed Housing Programme since its establishment in 1999, said Dr Abdullah bin Mohammed Belhaif Al Nuaimi, Minister of Infrastructure Development.

The support includes the provision of mortgages, grants, the construction of government housing and built-in extensions on existing houses, and home maintenance, he stated.

In an interview with state news agency Wam, Dr Al Nuaimi said that achieving residential stability and providing citizens with housing are priorities of the country’s leadership.

Dr Al Nuaimi also pointed out that the programme is implementing a package of housing projects this year around the country, ranging from constructing 10,746 individual units costing Dh6.98 billion to residential projects that include 1,990 houses costing Dh2.7 billion, noting that 12,736 projects costing Dh9.68 billion are still in progress.

Future housing projects expected to be delivered between 2019 and 2025 amount to 17,873 houses costing Dh17.32 billion, as well as 3,391 houses that are part of residential projects costing Dh5 billion, he further added, explaining that the total cost of future projects is Dh22.32 billion, said the minister.

The programme, since its establishment 20 years ago, has advanced the UAE’s housing sector, especially over the past five years, by approving over 90 per cent of submitted housing support requests, as opposed to 30 per cent when it was established, stated Dr Al Nuaimi.

The aim of hosting the third Arab Ministerial Forum of Housing and Urban Development, which will witness the participation of over 20 ministers, is to support joint Arab action in the housing sector, he added.


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