(MENAFN- Al-Bayan)
The UAE has continued its efforts to improve the citizen housing sector, which has maintained the momentum of achievements in 2023 with the support and close follow-up of the wise leadership, as the UAE is working to develop the citizen housing sector in all regions of the country, according to a strategy based on innovation and excellence in solutions and services, which has contributed The percentage of citizens owning housing will rise to more than 90% by the end of 2022, which is one of the highest percentages in the world.
The total housing assistance provided by various housing agencies in the country until 2023 is estimated at approximately 180,000 housing assistance, with a value exceeding 212 billion dirhams. During the current year, the UAE witnessed the announcement of a group of huge housing initiatives and projects at the federal and local levels, which would enhance the family stability system and raise the standard of living and a decent life for citizens.
Starting with the Sheikh Zayed Housing Programme, where the total value of the housing packages provided by the program for the year 2023 amounted to two billion and 899 million dirhams, and 3,764 sons and daughters of the Emirates benefited from them, bringing the percentage of compliance with the announced annual plan to more than 98%.
In Abu Dhabi, last May, the emirate approved an unprecedented housing budget worth 85.4 billion dirhams ($23.2 billion) to develop integrated housing and community neighborhoods. These projects are scheduled to provide approximately 76,000 housing and residential lands over the next five years.
From Abu Dhabi to Dubai, where His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, may God protect him, gave the housing renaissance a top priority as it is the mainstay of providing a decent life and social stability that guarantees the happiness of citizens, and the Emirate of Dubai has planned Thanks to his guidance, we have taken advanced steps on the path to improving the housing file.
Efforts have continued over the past years and various initiatives have been launched that have contributed to strengthening and consolidating the development and urban model of the Emirate of Dubai, which is based at its core on human happiness, enhancing the elements of a decent life for citizens, so that Dubai is the best city for living in the world. Thanks to the insightful vision and directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, may God protect him, and the follow-up of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, and His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance.
The Emirate of Dubai has established a modern and advanced legislative structure to regulate citizens’ housing, in line with the ambitious aspirations to make Dubai the preferred place to live and work and the nurturing environment for individuals full of pride and happiness. Thanks to this, the citizens’ housing sector has continued to make qualitative leaps and achievements in light of the continuous follow-up and unlimited support of the wise leadership, according to Integrated strategies that place improving the quality of life for citizens at the forefront of strategic priorities, in order to achieve stability, comfort and happiness for citizens.
The historic housing budget approved by His Highness Sheikh Mohammed bin Rashid Al Maktoum, may God protect him, with a value of 65 billion dirhams for the next 20 years for the citizens of the Emirate of Dubai, reflected His Highness’s keenness and the priority he gives to the citizens of the Emirate of Dubai and their well-being.
Which was accompanied by directives to quadruple the number of beneficiaries of the housing program in Dubai, and double the lands allocated for housing citizens in Dubai to reach one billion and seven hundred million square feet, sufficient to meet the needs of citizens for the next 20 years.
Not only that, there is another kind of ambition in Dubai, an ambition that suits Dubai’s leaders, an ambition that suits the Dubai dream, housing projects but projects with a development model, the best services and housing suitable for a distinct social environment and integrated luxury.
The Mohammed bin Rashid Housing Establishment has launched many initiatives related to loans related to the citizen housing program, such as the “early repayment” initiative from which a large number of citizens have benefited, through which the borrower is exempted by a percentage of the remaining amount of the loan, in the event He pays it before the expiry of the period.
The value of the discount is calculated based on the number of remaining years of the loan, as well as the remaining value of it, and the value of the discount allowed, within the framework of this initiative, reaches 300 thousand dirhams, without taking into account any discounts on unpaid loan arrears. In addition to the “Awad” initiative, a financial reward is given to the beneficiary who was approved for a construction loan and completed the housing without benefiting from the disbursement of the loan granted to him by the institution, and the institution grants it to the beneficiary.
The corporation is keen to apply the highest standards of sustainability in all its projects by taking advantage of renewable energy, maintaining the sustainability of project components, and enhancing smart building standards to ensure the provision of the best service to the citizens of the Emirate of Dubai. It is also keen to ensure that housing provides a sustainable living experience, within a pioneering model that enhances the quality of… Life, and ensures family stability in a typical integrated social environment, which includes parks, green spaces, recreational areas, and various facilities and services that achieve the well-being of families.
All of the above was listed to achieve the vision of His Highness the Ruler of Dubai when he said: “The housing file is a priority… and providing a decent life is a right for every citizen, male and female, and our goal is a new, integrated vision for the housing file.” To achieve His Highness’s vision, His Highness Sheikh Hamdan bin Mohammed is following up on the matter, who confirmed this by saying: “We are following the housing file directly to implement the directives of Mohammed bin Rashid to provide all the housing needs of citizens.” So in the end, we are touching on the matter, and we see that we are at the forefront because our residential neighborhoods are the best. Globally. The same thing applies to the rest of the emirates of the country. The article cannot list the achievements of smiling Sharjah, Ajman, Umm Al Quwain, Ras Al Khaimah, and Fujairah.
This is us, and this is the UAE. May our Emirates live long.
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2024-02-10 11:00:13
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