Abu Dhabi: The Cabinet of the United Arab Emirates, under the leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, has sanctioned the approval of 2,618 new housing units with a total value exceeding AED 2 billion during the first half of 2024.
This initiative is a testament to the UAE’s unwavering commitment to ensuring a decent living standard and suitable housing for all its citizens. It reflects the government’s focus on enhancing social stability and improving the quality of life for its people.
Strategic Importance
Housing remains a critical strategic axis for the federal government, which works in close coordination with local governments and relevant authorities. This collaborative effort aims to provide comprehensive support and foster social stability, with adequate housing being a central component.
During the first half of 2024, the program issued 2,618 housing approvals, divided into 631 grants worth AED 430.922 million and 1,987 housing loans and financing totaling AED 1.597 billion.
Historical Commitment
Since its establishment, the UAE has prioritized the housing sector, recognizing its importance in the nation’s rapid development. As one of the fastest-growing countries globally, the UAE’s approach involves meticulous planning and integrated investment to meet the evolving needs of its citizens.
The government’s ongoing initiatives in the housing sector underscore its dedication to creating a stable and prosperous society, ensuring every citizen has access to quality housing and a supportive living environment.
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