January 4, 2022
2 mins read

Hamdan approves 600 housing loans worth Dh600 million

The Mohammed bin Rashid Housing Establishment recently raised the value of the housing loan provided to Emirati citizens to AED1 million…reports Asian Lite News

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, has approved 600 housing loans worth a total of AED600 million to be provided by the Mohammed bin Rashid Housing Establishment as part of housing projects announced last year.

H.H. Sheikh Hamdan bin Mohammed said the decision reflects the vision of His Highness Sheikh Mohammed bin Rashid to provide the best living conditions for Emirati families as part of the Dubai 2040 Urban Master Plan that maps out a comprehensive plan for sustainable urban development in the emirate.

The Crown Prince added that Dubai is one of the world’s leading cities that places people’s happiness and quality of life at the centre of its development model, which enables it to provide an exceptional environment for individuals and families.

The Mohammed bin Rashid Housing Establishment recently raised the value of the housing loan provided to Emirati citizens to AED1 million. It also accelerated processing of loans and extended the loan repayment period to 25 years.

In addition, the Establishment announced various benefit schemes as part of its housing strategy that aims to design residential neighbourhoods to provide citizens the world’s best lifestyle and living environment for families.

ALSO READ: Hamdan honours 600 volunteers in Dubai

Two days ago, in his capacity as Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, has approved the Government of Dubai’s general budget for the fiscal cycle of 2022-2024, with a total expenditure of AED181 billion.

Through its 2022 budget, Dubai continues to place a high emphasis on developing social services, and its healthcare, education and cultural sectors. The budget also pays attention to citizens’ housing sector by raising the value of the housing loan to AED1 million and allocating more than 4,000 plots and houses with a total value of AED5.2 billion in the first phase of the housing programme for citizens in Dubai within a broader 20-year programme of AED65 billion.

Previous Story

NY attorney general subpoenas Trump family in fraud probe

Next Story

Pak SC raps Imran Khan govt for not producing detainee

Latest from -Top News

‘Op Sindoor’ Team Wraps Up Saudi Visit

The visit reaffirmed the shared commitment of India and Saudi Arabia in the fight against terrorism….reports Asian Lite News Riyadh, May 30 (IANS) The Indian all-party delegation, led by BJP MP Baijayant

Visa Interview Pause Nearing End, Says US

India is the source country for the largest group of international students in the US and Bruce’s comments will be closely followed there….reports Asian Lite News The United States said the pause

No Talks Till Terror Ends: India to Pakistan

The MEA’s strong response came at a time when Pakistan, pushed on the backfoot by India’s decisive Operation Sindoor, has suddenly started talking about its intent on having peace talks with India….reports

BNP ramps up poll demand

Chief Adviser Yunus had earlier promised elections in December 2025, but the timeline has since been pushed back first to February 2026 and then to June 2026, fuelling suspicion and dissatisfaction among

Saudi backs India’s strategic outreach

In a series of engagements, the Indian delegation met Saudi Arabia’s Minister of State Adel Al-Jubeir and other senior officials. A high-profile Indian all-party parliamentary delegation, led by BJP MP Baijayant Jay
Go toTop

Don't Miss

India to showcase its march to $5T economy at Expo 2020

The India Pavilion at Expo 2020 Dubai which is a

‘India-UAE flights to remain suspended till Aug 2’

Etihad Airways received confirmation that flights from India are suspended