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    Saturday, May 14, 2022

    Sheikh Mohammed bin Rashid announces Dh6.3bn Dubai housing package for Emiratis

    Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, on Sunday announced the approval of a Dh6.3 billion ($1.7bn) investment project to provide housing and land for more than 4,600 Emiratis.

    Sheikh Mohammed said a plan to construct a housing complex in Al Khawaneej, which will include 1,100 residential villas, was also approved.

    The initiatives are part of a strategy to provide high living standards for citizens.

    Sheikh Mohammed confirmed the projects on Twitter, accompanied by a video outlining Dubai’s plans to support its citizens.

    Last September, Sheikh Mohammed said Dh65bn would be allocated to a housing programme in Dubai for UAE citizens over the next two decades.

    “Quality housing is a dignity and a right for all,” Sheikh Mohammed said at the time.

    “A decent life for the people of the country is the first priority for the government’s work.”

    In November, Sheikh Mohammed set out Dubai 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.

    In February it was revealed Dubai had started to build 803 new homes for Emiratis under a Dh1.2 billion project.

    The additional housing is to serve Al Kawaneej 2 and Al Warqa districts of the emirate.

    The initiative is being overseen by Mohammed bin Rashid Housing Establishment.

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

    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 continued investment in housing infrastructure in Dubai comes as the emirate’s population booms.

    Numbers of those living in the emirate have passed the 3.5 million mark as a result of a post-coronavirus pandemic rise in migration.

    Dubai Statistics Centre’s live population counter stood at 3,500,105 on Thursday.

    Between the end of 2020 and April 2022, the population rose by close to 100,000.

    Population growth is a major goal for the emirate’s government, with a target of 5.8 million people by 2040 and an expansion of Dubai planned.

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