UAE Approves Dhs1.5bn Contracts For Emirati Housing Project

The UAE’s deputy prime minister Sheikh Mansour bin Zayed Al Nahyan has approved contracts worth Dhs1.5 billion for phase one of a housing project for Emiratis, official news agency WAM reported.

The project will build and renovate around 10,000 houses for UAE citizens across different emirates.

According to officials, the project will feature mixed use housing complexes, each containing 100 villas and associated facilities. The project is scheduled for completion by the end of 2017.

The UAE government has been stepping up efforts to provide housing for its citizens with Dubai and Abu Dhabi launching housing projects and financing for Emiratis.

Earlier this year, Dubai’s ruler Sheikh Mohammed bin Rashid al Maktoum approved a Dhs2.1 billion housing grant for Emiratis looking to build their own homes.

The Sheikh Zayed Housing Programme (SZHP) is expected to help 5,000 families, after Dubai’s ruler approved funding for the scheme.

Many local families have been waiting for grants with the programme receiving nearly 30,000 applications since 2006.

As well as offering interest-free loans to build a house, the SZHP offers grants to assist in the buying, building and maintenance of a house, and builds government houses for applicants.

However those applying for the scheme must meet certain requirements, including a maximum income.