Emiratis to receive $353mn in housing grants
Housing grant allotment is the largest for the year
RELATED ARTICLES: Dubai not headed for 2008 repeat | JBR appeal wanes as construction work bothers residents | Dubai reported as world’s strongest housing market The year’s largest housing allotment has been approved, with 3,000 Emiratis set to receive housing assistance worth $353 million in Dubai and the Northern Emirates. Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai said that the assistance would come in the form of loans and grants in housing aid from the Sheikh Zayed Housing Programme. The housing assistance is to mark World Habitat Day. “This instalment is the biggest of all payments that have been announced before,” said Dr Abdullah Al Nuaimi, Minister of Public Works and chairman of the SZHP. “It is an important indicator of the Government’s keenness to achieve the strategic goal of the programme to provide a decent life for all citizens and ensure highest standards of happiness.” The SZHP offers interest-free loans to build a house, grants to assist in the buying, building or maintenance of a house, and builds government houses for applicants, who must meet the requirements to receive aid, which include a maximum income. Of the 2,854 names mentioned in this batch of aid, 260 have obtained final approval for an estimated total of $35.39 million, reported The National. 154 of the 260 were approved for loans – 65 in Ras Al Khaimah, 25 in Sharjah, 22 in Fujairah, 17 in Ajman, 16 in Dubai and nine in Umm Al Qwain. 90 nationals were selected for housing grants – 34 in Ras Al Khaimah, 18 in Dubai, 17 in Sharjah, 10 in Fujairah, eight in Ajman, and three in Umm Al Quwain, added the report. SZHP has also focused on reducing the cost of construction by signing partnership agreements with building materials companies to offer discounted rates to programme beneficiaries and around 108 companies, suppliers and producers will offer discounts up to 50% for the same.
