Zayed Housing: 99% adherence to the plan announced during the past year

45 billion dirhams of housing support decisions for citizens in 23 years

Zayed Housing issued six batches of housing assistance decisions during the year 2022.

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During the 23 years since its establishment in 1999 until 2022, the Sheikh Zayed Housing Program issued housing support decisions for citizens with a value exceeding 45 billion dirhams, covering all regions of the country.

The total value of the amount was distributed between loans and grants, and varied between building a new house, completing a house, maintaining a house, buying a ready-made house, government housing, and fulfilling a loan.

The program's director, Eng. Mohammed Al-Mansoori, told Emirates Today: "The program has spared no effort to achieve housing stability and provide a happy life and well-being for citizens, as it was able to hand over more than 38,45 completed homes to the beneficiaries."

He added: «Reflecting the efforts of the UAE government to make its citizens happy and achieve prosperity for them, in 2022 it adopted housing projects and initiatives, including the new policy for government housing loans, which aims to provide financing for housing loans in partnership between the Sheikh Zayed Housing Program with the private sector, banks and national banks, and from During a plan for the next five years 2022-2026, at a cost of 11.5 billion dirhams, to include 13 thousand housing decisions, in order to meet the future needs of the country's citizens.

Al Mansouri stated that «the program issued during the year 2022 six batches of housing assistance decisions, and the total of what was issued and announced since the adoption of the new housing policy last May, until the end of last year, reached 2983 housing assistance decisions, with a total value of 2.374 billion dirhams. , bringing the percentage of adherence to the announced plan to more than 99%.

The total housing assistance issued by the program during the past year amounted to 3,578 housing decisions, with a value of 2.846 billion dirhams.

He explained that the housing sector witnessed qualitative leaps and ambitious decisions that contributed to bringing joy and happiness to the hearts of Emiratis, indicating that the program was able to achieve the goals of the new housing policy, which represents a major focus for the next fifty years, and raise the level of happiness and quality of life and support family stability and well-being.

In May 2022, the Council of Ministers approved the new policy for financing loans for government housing programs, according to which the value of housing loans is financed through cooperation between the Sheikh Zayed Housing Program and national banks and banks, with the aim of sustaining financing sources and meeting current and future housing needs, in addition to To enhance partnership between the government and private sectors, and to facilitate the process of financing housing loans for citizens benefiting from the program.

According to the new housing policy, banks and national banks undertake the process of financing citizens’ housing loans in full, provided that the program finances the value of the interest accruing from the loan on behalf of the citizen, which contributes to doubling the number of decisions that can be issued annually for loans, especially during the next five years, in addition to To sustain financing through partnership with the private sector.

The new policy aims to unite efforts to serve citizens benefiting from the Sheikh Zayed Housing Program by providing banking facilities for housing financing, and searching for successful solutions that would reduce the financial burden on the beneficiaries. 

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