Residential projects in UAE continue the vigor in half of 2020

UAE

The Residential projects in UAE have adopted a comprehensive national strategy for the event of the housing sector to serve citizens and maintain stability and prosperity.
The UAE President’s initiative follow-up committee has completed the development of the AED 1.9 billion residential cities of Mohammed bin Zayed in Fujairah.
The project was launched to satisfy the requirements of citizens, support the well-being and stability of UAE families, and improve their quality of life.
The UAE leadership has placed housing at the highest of its priorities for development all told UAE to serve citizens, the foremost important asset within the country’s progress. The residential city of Mohammed Bin Zayed was a prominent urban achievement in Fujairah’s housing sector and a contemporary city designed to the very best standards of the international residential community. The city has been an extension of the vital project package throughout the UAE and aims to attain family stability and Social Security for citizens through housing, road, and repair projects.
The cost of the residential city of Mohammed Bin Zayed is AED 1.9 billion and covers a section of roughly 2.2 square kilometers, and can accommodate 1,100 residential villas equipped with sophisticated facilities, with the aim of providing housing for about 7,000 residents. Over time, schools, mosques, gardens, and shops are going to be included moreover because of the Community Cultural Center and also the men’s Council. The residential city of Mohammed Bin Zayed is found within the Al Hail area, 3 km south of Fujairah Airport, and has 20 public parks and public service land.
Under the instructions of his Highness Sheikh Khalifa bin Zayed Al Nahyan, his Highness Sheikh Mohammed bin Zayed Al Nahyan, Prince of Abu Dhabi Deputy Commander-in-Chief of the defense force and Chairman of the manager Council of the national capital, agreed. The disbursement of housing loans and houses and Residential land with a complete of AED 5.5 billion, has been awarded to quite 5,500 Emirati citizens within national capital.

The first installment of housing, home, and residential loans is approved in May as a part of the leadership’s wise commitment to making sure social stability, enhancing the living standards of UAE citizens, and strengthening their role in contributing to community development.
The UAE’s National Housing Loans Program (GD21) is an element of its program to extend the number of housing loans to UAE nationals. The leaders have ordered 429 retired citizens to be exempted from the repayment of housing loans in the United Arab Emirates’s capital for a complete value of AED 444 million. The gesture aims to stabilize the family and make sure the best standard of living for citizens. These exemptions also aim to alleviate the social burdens of citizens, especially low-income retirees, to eliminate any related social burdens.
In Dubai, Mohammed Bin Rashid Housing Corporation confirmed that its total residential loan and grant amounted to AED 202 million within the half-moon of 2020, which represents 300 approved approvals distributed among five residential services, including 212 residential building approvals. 14 ready-made houses are owned through purchase loans, 21 out-of-box houses aren’t owned through purchase loans, 59 maintenance loans, add-on or replacement loans, and 4 apartment rentals.
In Sharjah, the housing projects of citizens continue in accordance with the directives of his Highness Sheikh Sultan Bin Mohammed Al-Qassimi, a member of the Supreme Council of the Ruler of Sharjah, who ordered the completion of 4400 housing applications at the start of the year within a year and a half.
At the federal level, the Sheikh Zayed Housing Program monitors the implementation of various projects and programs aimed toward providing adequate housing to varied segments of the community, by providing grants and housing loans for building, completing and maintaining homes. In January 2020, the Program Board approved applications for 503 eligible citizens worth AED 395 million. In May 2020, the program approved 500 applications worth AED 486 million, in conjunction with Eid al-Fitr. The program plans to deliver 1,729 homes worth AED 2 billion by Q4 2020, including 888 in three phases in Ras Al Khaimah. 500 in Ajman, 341 in Dubai.