UAE approved housing worth Dhs2 billion in first half of the year

Gulf Today, Staff Reporter

Chaired by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the UAE Cabinet endorsed 2,618 housing approvals worth more than Dhs2 billion during the first half of this year.

This comes as part of the UAE’s ongoing efforts to provide a decent life and suitable housing for all citizens, meet their needs and enhance their stability.

The UAE government gives top priority to the housing file, which constitutes an important strategic theme of the federal government’s work in co-ordination with local governments and concerned authorities with a view to providing all means of support and social stability, most notably adequate housing.

As many as 2,618 housing approvals worth over Dhs2 billion were issued by the programme during the first half of the current year including 631 grants worth Dhs430.922 million and 1,987 housing loans and financing worth Dhs1.597 billion. The housing sector is one of the vital areas that has been a priority since the establishment of the UAE, which is one of the fastest growing countries in the world.

This rapid growth requires good planning and integrated investment in the housing sector to meet the needs of its citizens.