UAE Cabinet Approves AED 2 billion in Housing Projects for Citizens

The UAE Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, has approved 2,618 housing projects valued at over AED 2 billion in the first half of 2024.

This initiative underscores the UAE's commitment to providing decent housing and improving the quality of life for its citizens.

The UAE government places a high priority on the housing sector as a strategic element of federal work, in collaboration with local governments and relevant authorities. This coordinated effort aims to ensure social stability through adequate housing.

The approvals include 631 grants worth AED 430.922 million and 1,987 housing loans and financing totalling AED 1.597 billion. Since its establishment, the UAE has focused on rapid and well-planned growth, integrating investment in housing to meet the needs of its expanding population.

This initiative aligns with the UAE's ongoing efforts to enhance the stability and well-being of its citizens, providing them with the necessary support and quality living conditions.

News Source: Emirates News Agency