The total number of housing loan/financing decisions issued by the Sheikh Zayed Housing 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, according to what was announced today by the “Zayed Housing Program.”
The number of housing grants reached 1,025 grants, worth 682,300 million dirhams, while the total number of decisions within residential neighborhoods reached 294 decisions, worth 278 million dirhams, while the total value of effective loan decisions amounted to approximately 17,502 billion dirhams, at a rate of 90.6%, while the percentage of closed loan files reached 17,502 billion dirhams. 9.4%.
Since its establishment in 1999, the Sheikh Zayed Housing Program has placed the well-being of citizens and enhancing the quality of life for Emirati families as its top priority, by providing affordable and sustainable housing solutions, and its endeavors to support family stability and enhance social happiness.
Thanks to the forward-looking vision of the wise leadership, the program has achieved many ambitious achievements over the past years, which come within the framework of the constant keenness to provide a decent life, raise the quality of life for citizens, and achieve their happiness, and it is part of the state’s ongoing efforts to support citizens.
The director of the Sheikh Zayed Housing Program, Engineer Mohammed Al Mansouri, said: “The support of the wise leadership, and the tireless efforts to anticipate the future of government housing in the country, and search for solutions and future housing needs in cooperation with the relevant authorities in the government sector (federal and local) and the private sector, contributed to achieving the ownership percentage.” “Citizens own housing at more than 91%, which is one of the highest percentages in the world.”
He added: “In translation of the leadership’s directives to develop ambitious housing programs, and thanks to action plans, specific partnerships, policies and legislation, the program was able to reduce the time for a citizen to obtain a housing support decision (loan or grant) from 4.42 years in 2017 to 1.07 years in 2023, while the number of decisions reached The housing loans/financing issued by the program during the past year amounted to 4,334 decisions, compared to 835 decisions during the year 2021.”
Regarding the housing situation, Al Mansouri explained that the total number of decisions issued since the announcement of the housing policy in mid-2022 amounted to 6,235 housing financing loans in cooperation with banks and banks, worth approximately 4.953 billion dirhams, with a commitment rate of 95.92%, while the percentage of meeting housing needs reached 90%. The percentage of reduction in the number of accumulated applications was 58%, from 13,666 applications in 2020 to 5,830 applications last year.
He said: “In evaluating applications and distributing grants, the program relies on objective criteria that ensure fairness and transparency, as the actual need and living conditions of applicants are considered to ensure that support reaches those who deserve it.”
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