FNC body discusses housing initiatives

dubai — The Federal National Council’s Financial, Economic and Industrial Affairs Committee was briefed about initiatives and opportunities related to supporting the development of the housing sector while discussing the policy of Emirates Development Bank.

The discussion took place during the committee’s meeting held at the headquarters of the FNC general secretariat in Dubai, led by committee chairman Majid Hamad Al Shamsi and was attended by representatives from the Mohammed bin Rashid Housing Establishment, Abu Dhabi Housing Authority and Sharjah Housing Authority.

The committee discussed the topic through four key pillars, which are the strategic plans of Emirates Development Bank, coordinating with relevant authorities to fund the housing sector and funding small and mediumsized enterprises, vital sectors and infrastructure projects.

Al Shamsi said that the committee is monitoring the discussions according to a plan that includes holding meetings with relevant housing authorities, and discussed several issues with their representatives, who presented their plans to fund public housing projects.

He added that the committee discussed the challenges facing these authorities with regards to achieving fund liquidity, to address the growing demand for public housing loans, as well as other challenges and their solutions. —