The UAE continues its efforts to translate its vision in the field of housing with additional projects in the sector that provide adequate housing that meets the needs of citizens, improves their quality of life, and enhances their social stability and family cohesion.
The citizen housing projects announced during the first four months of this year embody the exceptional care given to this vital sector, which contributed to the rate of citizen ownership of homes in the UAE reaching more than 91 percent, which is one of the highest rates in the world.
The beginning was with the Sheikh Zayed Housing Programme, where the Ministry of Energy and Infrastructure announced last March the approval of 460 housing assistance for citizens in an amount of approximately 350 million dirhams, which varied between decisions on housing grants, loans, government housing, and housing financing with banks, on the occasion of the blessed month of Ramadan.
In detail, the Ministry of Energy and Infrastructure approved the names of 188 beneficiaries of housing grants, with a total value of 128 million and 500 thousand dirhams, which comes in implementation of the directives of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State, “may God protect him”, in June 2022, to complete all… Requests for housing grants for previous years through the initiatives of His Highness the President of the State in the amount of 2.3 billion dirhams, in addition to 250 beneficiaries of housing loans in cooperation with banks and banks worth 197 million and 500 thousand dirhams, as part of the housing policy action plan for the year 2024, as the ministry aims to reach 3,000. Decision during the current year, the Ministry also approved 22 housing assistance decisions that varied between a loan and a government housing grant.
It is worth noting that the Sheikh Zayed Housing Program announced 6,235 housing financing loans, in cooperation with banks, with a value of approximately 4 billion and 953 million dirhams, since the announcement of the housing financing policy in July 2022 until February 2024. The total number of loan and housing financing decisions issued by the program during the past year amounted to 4,334 decisions worth 3.34 billion dirhams, including 3,015 housing financing decisions within the housing policy, worth 2,380,551 billion dirhams. In Abu Dhabi, last March, the announcement of the launch of the Yas Canal residential project in the Al Raha Beach area, to build 1,146 residential villas for citizens with a total value, emerged. Reaching 3.5 billion dirhams. The project, which is supervised by the Abu Dhabi Housing Authority, in partnership with the Abu Dhabi Projects and Infrastructure Center and ICT Real Estate Development Company, is expected to be completed in the last quarter of 2027. The Yas Canal residential project is being built on a plot of land with an area of 1.8 square kilometers, which includes, in addition to residential villas, the construction of service facilities that include three mosques, a school, a sports club, and shops with an area of 10,000 square meters.
The project provides options for residential villas from three to six rooms, with areas starting from 350 square meters and up to 525 square meters per villa, built on residential plots ranging in size from 600 square meters to 780 square meters.
In turn, the Emirate of Dubai announced last January the allocation of 3,500 residential plots of land to be distributed to eligible citizens and the provision of 2,300 ready-made homes in various regions at a value of 5.5 billion dirhams, as part of the “Dubai Social Agenda 33.”
The lands, with a total area of 40 million square feet, were distributed over two areas: 2,700 plots of land in Latifa City and 800 plots of land in Al Yalayis Fifth. Work is currently underway to implement 2,300 new homes within integrated residential complexes located in the areas of Al Khawaneej II, Al Awir, Wadi Al Amradi, and Hatta. The housing will be delivered to citizens by the end of this year. The new housing provides various housing options for current families and future generations in order to provide citizens with a stable life that meets their needs and provides them with a sustainable living experience within a pioneering model that enhances the quality of life and provides a number of new services and facilities.
Last March, the Executive Council of the Emirate of Dubai approved the affordable housing policy in Dubai, which is in line with the objectives of the Dubai Urban Plan 2040 to plan and develop vibrant and healthy communities, focusing development in urban centers that contribute to supporting economic sectors, diversifying job opportunities, and providing housing needs and services. .
For its part, last January, the Executive Council of the Emirate of Sharjah approved the first batch of 2024 for those exempted from paying housing loans, which included 50 beneficiaries from various cities and regions of the emirate, with a total amount of 34 million and 195 thousand dirhams.
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