UAE: 3,000 housing loan recipients to be announced this year – News

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Five hundred beneficiaries of the new housing policy announced



Photo: Wam

By Wam

Published: Tue, Jul 5, 2022 3:29 PM

Last update: Tue, Jul 5, 2022, 3:30 PM

Several leadership directives will be implemented regarding the new housing loan policy, said Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure.

He praised the interest of the wise leaders of the UAE in providing sustainable government housing to support Emiratis, improve family stability and provide them with a decent life.

On the sidelines of the signing by the Ministry of Energy and Infrastructure – represented by the Sheikh Zayed Housing Program – of a joint Memorandum of Understanding with four national banks, namely First Abu Dhabi Bank (FAB), Emirates NBD, Dubai Islamic Bank and Abu Dhabi Islamic Bank,

He added that 3,000 home loan recipients will be announced during 2022; 500 housing decisions per month, announcing the names of the beneficiaries of the first tranche of the new housing policy, which includes 500 decisions worth 400 million dirhams.

The MoU was signed by Mohammed Al-Mansoori, director of the Sheikh Zayed housing program, and representatives of national banks in the presence of a number of officials.

Al Mansoori explained that the MoU supports the new policy based on national banks taking over the entire process of financing citizens’ housing loans, with the Sheikh Zayed housing program financing the interest value. on the loan in the name of the citizen.

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Housing Program Director Sheikh Zayed pointed out that the MoU targets national banks that have extensive experience in housing finance and have previous partnerships with local housing authorities.

He explained that the Ministry of Energy and Infrastructure aims to meet citizens’ needs for public housing, provide multiple financing options at competitive prices, reduce waiting time for housing and enable citizens to obtain competitive prices for additional loans.

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