SZHP issued decisions worth Dhs3.34b in 2023

ABU DHABI: Sheikh Zayed Housing Programme (SZHP) has announced that 4,334 decisions were made in 2023 valued at Dhs3.34 billion.

These included 3,015 housing finance decisions at Dhs 2,380,551,000 and 1,025 housing grants at Dhs 682,300,000.

Mohammed Al Mansoori, Director-general of SZHP, said that active loan decisions amount to Dhs17.502 billion, at 90.6%, while the percentage of closed loan files is 9.4%.

Since its establishment in 1999, SZHP has commited to enhancing citizens’ well-being and the quality of life for Emirati families through sustainable housing solutions. Owing to the future-oriented vision of wise leadership, the Programme has made notable achievements that have touched the lives of thousands of people.

Speaking on the achievements, Al Mansoori stated, “Over 91% of citizens now own residences. This is one of the highest rates globally. Additionally, the Programme was able to reduce the time needed for a citizen to obtain a housing support decision, whether a loan or a grant, from 4.42 years in 2017 to 1.07 years in 2023. Moreover, the number of decisions has surged. In 2023, 4,334 support decisions were made, compared to 835 in 2021.”

He added, “Since the launch of the Housing Policy mid-2022, decisions for 6,235 housing loans valued at Dhs4.953 billion have been approved in collaboration with banks. The compliance rate has reached 95.92%, while the percentage of meeting housing needs has been 90%, and the percentage of reducing accumulated applications has reached 58%, going down from 13,666 applications in 2020 to 5,830 in 2023.”

The Programme relies on objective criteria that ensure transparency and equity and ensure that support reaches those who need it most.

The Ministry of Energy and Infrastructure, represented by the SHZP, had approved 460 housing aids for citizens, totalling approximately Dhs350 million on the occasion of the Holy Month of Ramadan.

The assistance includes grants, loans and government housing. The ministry has approved the names of 188 eligible citizens for housing grants totalling Dhs128.5 million, in line with the directives of President His Highness Sheikh Mohamed Bin Zayed Al Nahyan, in June 2022, to complete all housing grant applications for previous years through Sheikh Mohamed’s initiatives at a cost of Dhs2.3 billion.

In addition, 250 citizens will benefit from housing loans in cooperation with banks and financial institutions at a cost of Dhs197.5 million.

This is part of the housing policy action plan for 2024, which targets 3,000 decisions during the current year.