UAE housing programme approves Dh299m in assistance

The Sheikh Zayed Housing Programme has approved Dh298.7 million ($81.3 million) in assistance for UAE citizens.

The funding includes applications for the construction, completion, maintenance, purchase and upgrade of housing, state news agency Wam reported yesterday.

The move is part of an order issued by President Sheikh Mohamed in June last year for all applications received by the programme to be completed, at a cost of about Dh2.3 billion.

“As we welcome the holy month of Ramadan, the month of giving, Sheikh Zayed Housing Programme continues its endeavours to enhance family stability, ensure decent living, and improve the quality of life of UAE citizens,” said Suhail Al Mazrouei, Minister of Energy and Infrastructure.

He said last June that the ministry would work with the Follow-Up Committee of the Initiatives of the UAE President to carry out the directives within five years.

The policy shows Sheikh Mohamed’s determination to meet the needs of the country’s citizens, Mr Al Mazrouei said.

Last May, the UAE announced plans to support thousands of citizens as part of its housing strategy.

It was reported that 13,000 Emirati families in the Northern Emirates would be eligible for interest-free home loans under the plan.

A total of Dh11.5 billion was to be given to families in Sharjah, Ajman, Ras Al Khaimah, Umm Al Quwain and Fujairah in the first phase of the plan.

Emiratis must submit requests to the Ministry of Energy and Infrastructure to obtain loans through the Sheikh Zayed Housing Programme, which was established in 1999.

It provides interest-free loans, repayable over 25 years, to citizens with limited incomes.

Those who most need support are awarded grants and non-reimbursable assistance. The initiative gives priority to orphans, widows, the elderly and people with special needs.

In July, the Central Bank of the UAE increased the debt burden ratio of beneficiaries of housing loans under the programme.