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Sheikh Mohammed approves Dhs1.6bn in housing loans

Housing loans for 2,000 Emiratis were approved under the Sheikh Zayed Housing Programme

by Gulf Business

May 28, 2023

Housing programme _ Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai image credit: Dubai Media Office

Image: Dubai Media Office

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has approved housing loans for 2,000 Emiratis under the Sheikh Zayed Housing Programme.

The total value of the loans approved was Dhs1.6bn.

The programme, named after its esteemed founder, continues to achieve the goal for which it was established, Sheikh Mohammed said in a tweet.

“We recall his quote that wealth and life fade away, but working for the nation endures and is immortal.”

اعتمدنا اليوم موافقات ل2000 مواطن لقروض سكنية جديدة ضمن برنامج الشيخ زايد للإسكان بقيمة إجمالية 1.6 مليار درهم .. البرنامج الذي يحمل إسم المؤسس طيب الله ثراه مستمر في تحقيق الغاية التي أنشأه من أجلها … ونستذكر مقولته رحمه الله بأن المال يفنى والعمر يفني ولكن العمل من أجل الوطن…

— HH Sheikh Mohammed (@HHShkMohd) May 28, 2023

.@HHShkMohd approves AED 1.6 billion in housing loans for 2,000 Emiratis as part of Sheikh Zayed Housing Programme.
(Archive Photo) pic.twitter.com/1vRgGGCu14

— Dubai Media Office (@DXBMediaOffice) May 28, 2023

The Sheikh Zayed Housing Programme

The programme was established in 1999 and provides interest-free loans repayable over a 25-year period to low-income citizens.

The programme prioritises orphans, widows, seniors and people of determination.

In March, the programme, the initiative under the Ministry of Energy and Infrastructure (MoEI), approved Dhs298.7m in housing aid.

The aid was issued via 432 decisions on applications for house construction, completion, purchase, maintenance and upgrades, the state news agency WAM reported.

The Sheikh Zayed Housing Programme

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