DUBAI, Under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, the Higher Committee for Development and Citizens Affairs, chaired by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, approved immediate allocation of 2000 residential land plots at Umm Nahad Fourth area.
The step comes as part of the Housing Programme for Dubai Citizens, to meet the requirements and needs of Emirati families.
“Under the directives and follow-up of His Highness Sheikh Mohammed bin Rashid Al Maktoum, we approved during the meeting of the Higher Committee for Development and Citizens Affairs, the immediate allocation of 2000 residential land plots at Umm Nahad Fourth area, as part of the Housing Programme in Dubai. We continuously follow up on the housing programme files to implement His Highness’ directives to provide all the needs of citizens and enhance their quality of life. The Higher Committee’s priorities are to provide proactive and fast support for citizens,” Sheikh Hamdan bin Mohammed said.
The directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum cover the allocation of 2000 residential land plots at Umm Nahad Fourth. These plots will be distributed starting from 27th July, 2022, to eligible citizens who have got approvals from Mohammed bin Rashid Housing Establishment through the Maskani App, which allows citizens to select the sites of plots that suit them. Priority will be given to accommodating family members within the same district, while providing the facilities and services that ensure the wellbeing of residents will be provided as per the growth plans in the area.
His Highness Sheikh Mohammed bin Rashid Al Maktoum had approved raising the value of the housing loan for citizens in Dubai to AED1 million with no interest rate applicable to eligible categories, as part of His Highness’s keenness to enhance family stability and provide the highest standards of living for citizens. Moreover, the package also included reducing the monthly deduction for housing loan repayments to only 15 percent of the borrower’s monthly income, eliminating the condition that required a certain balance to obtain residential land, and reducing the prices of some the Mohammed bin Rashid Housing Establishment’s houses by about 10 percent to facilitate the purchase for citizens.
A variety of initiatives have been endorsed to assist citizens to build their residential villas in Dubai. It includes exemption from mortgage fees applicable to approved housing loans, and exempting citizens building homes for the first time from electricity connection fees, provided that the construction cost does not exceed AED4 million. Priority is given to accommodating members of the same family within the same area to enhance family links and social cohesion.
His Highness Sheikh Mohammed bin Rashid Al Maktoum had previously approved housing budget amounting to AED65 billion for the next 20 years for housing citizens in Dubai. These directives are part of efforts to supplement the development model of the emirate under the Dubai 2040 Urban Plan, to ensure the highest standards of living for citizens and realise the vision of His Highness to make Dubai the best city for living in the world.
Source: Emirates News Agency
