The Bank of Canada (BoC) Governor Tiff Macklem’s reassurance that interest rates will remain low for at least two years could unleash a wave of speculative demand in the country’s hottest housing markets, realtors and mortgage brokers warned.
The handover process for the first four Areej Apartments buildings, amounting to 255 units in total, has now begun as the Sharjah developer continues its aggressive delivery plan for 2021.
The UAE real estate sector is taking a big picture view of digital transformation, with an emphasis on empowering user experiences, sustainability and real time efficiencies.
‘We welcome families, groups of friends, relatives, people who know each other or investors to join forces,’ says mayor.
Under the directives of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, has approved 600 housing loans worth a total of Dhs600 million to be provided by the Mohammed Bin Rashid Housing Establishment as part of housing projects announced last year.
I chaired a cabinet meeting today, where we adopted a housing loans budget of Dhs12 billion for Sheikh Zayed Housing Programme during the coming years. The aim is to fulfil accumulated and expected requests and reduce the waiting period during the coming years." tweets Sheikh Mohammed.
The first housing package in 2022, which coincides with Eid Al Fitr celebrations, reflects the leadership’s commitment to ensuring social stability, and enabling UAE citizens to raise strong, stable families that will benefit the future of the UAE.
The step comes as part of the Housing Programme for Dubai Citizens, to meet the requirements and needs of Emirati families.
The package includes the disbursement of housing loans and housing lands, and the exemption of retirees and deceased families from paying the dues of housing loans.