Housing loans worth AED 600 million approved in Dubai

Six-hundred housing loans worth a total of AED 600 million have been approved in Dubai as part of the Emirati Housing Programme.

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, approved the loans, following the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

The loans will be provided by the Mohammed bin Rashid Housing Establishment as part of the housing projects announced in 2021.

Sheikh Hamdan said the latest decision reflects the vision of His Highness Sheikh Mohammed to provide the best living conditions for Emirati families as part of the Dubai 2040 Urban Master Plan that maps out a comprehensive plan for sustainable urban development in the emirate.

The Crown Prince added that Dubai is one of the world’s leading cities that places people’s happiness and quality of life at the centre of its development model.

The Mohammed bin Rashid Housing Establishment recently raised the value of the housing loan provided to Emirati citizens to AED 1 million.

It also accelerated the processing of loans and extended the loan repayment period to 25 years.

Under the directions of @HHShkMohd, #Dubai Crown Prince @HamdanMohammed approves 600 housing loans worth a total of AED600 million as a part of the Emirati Housing Program in #Dubai. pic.twitter.com/8W5RusSW10

— Dubai Media Office (@DXBMediaOffice) January 3, 2022