Sheikh Mohammed bin Rashid unveils Dh3.8bn Dubai housing plan

The programme will include the creation of 2,000 new residential plots and a Dh500 million living complex for families

Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, said providing quality housing for the public remained key to the UAE's future plans. Photo: Wam

Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, announced the emirate will provide housing projects worth Dh3.8 billion under a plan to provide the best living environment for families.

The programme will include the distribution of 2,000 residential plots, 900 villas and a Dh500 million complex for small families, Sheikh Mohammed said.

He said providing quality housing for the public remained key to the UAE's future plans.

"Today, we approved housing projects in Dubai with a value of Dh3.8 billion, including the distribution of 2,000 residential plots, 900 ready-made housing villas, an integrated complex of half a billion dirhams for small families, and a set of services for beneficiaries, including ... exemptions from government fees, and a reduction in monthly instalments for housing loans," Sheikh Mohammed said on Twitter.

"The housing file will remain within our personal follow-up and our goal is to change the shape of residential neighbourhoods for citizens in the future to provide the best lifestyle and the best environment for families in the world."

A Dh10 billion package encompassing housing loans, plots of land and homes for Emiratis in Abu Dhabi was announced on Saturday.

It also includes the exemption of 10,032 low-income retirees and families of deceased mortgagors from repayments, Abu Dhabi Media Office said.

It comes under the directives of President Sheikh Khalifa and Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces.

The housing package coincides with the UAE’s 50th National Day celebrations and reflects the leadership’s commitment to ensuring social stability and enhancing living standards, state news agency Wam said.