UAE Cabinet approves 2,618 new housing units in H1 2024
This initiative is part of the UAE’s ongoing efforts to provide a decent life and suitable housing for all citizens
Khoder Nashar, WAM (Emirates News Agency)
DUBAI: The Cabinet of the United Arab Emirates, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, approved 2,618 housing approvals worth more than AED 2 billion during the first half of 2024.
This initiative is part of the UAE’s ongoing efforts to provide a decent life and suitable housing for all citizens, meeting their needs, enhancing their stability, and improving their quality of life.
The UAE government prioritises the housing sector, which constitutes a critical strategic axis of the federal government’s work in coordination with local governments and relevant authorities. This effort aims to provide all means of support and factors of social stability, most notably adequate housing.
The number of approvals issued by the program during the first half of this year amounted to 2,618 housing approvals worth more than AED 2 billion. These approvals were distributed between 631 grants worth AED 430.922 million, and 1,987 housing loans and financing worth AED 1.597 billion.
The housing sector has been a priority since the establishment of the UAE, one of the fastest-growing countries in the world. This rapid growth requires good planning and integrated investment in housing to meet the needs of its citizens.