4 Memoranda to Facilitate the Financing of Supplementary Loans for the Beneficiaries of "Zayed Housing"

The Ministry of Energy and Infrastructure, in the presence of the Minister of Energy and Infrastructure, Suhail Al Mazrouei, signed four memoranda of understanding with the Emirates Development Bank, Emirates Islamic Bank, Dubai Islamic Bank, and Ajman Bank, to facilitate the financing of supplementary loans (value differences between the program loan and the value of the house). For citizens benefiting from the Sheikh Zayed Housing Programme, a partnership that comes through strengthening cooperation between the ministry and national banks to serve citizens by providing competitive prices to beneficiaries of the program’s loans.

The memorandums aim to enable citizens to obtain competitive prices for complementary loans, which will enhance the empowerment of citizens to receive housing, especially beneficiaries from residential neighborhoods. The agreements included beneficiaries receiving a reduction in interest rates, in addition to reducing and canceling some administrative fees.

Al Mazrouei said that the memorandums aim to unify efforts to serve the citizens benefiting from the services of the program, by providing banking facilities for housing financing, and searching for successful solutions that would reduce the financial burdens on the beneficiaries, and stressed that the memoranda of understanding come in response to the aspirations and needs of the Emiratis and providing them with adequate housing. In order to achieve family stability and well-being for the people of the Emirates.

For her part, Director of the Sheikh Zayed Housing Program, Jamila Al-Fandi, said that providing advanced infrastructure and sustainable government housing that achieves happiness and quality of life for citizens is a priority on the agenda of the Ministry of Energy and Infrastructure, and this has been reflected in projects and initiatives to improve public facilities, and establish integrated residential complexes. With distinguished services that meet the aspirations and future needs of the sons and daughters of the Emirates. 

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