Dubai: Sheikh Hamdan approves Dh7 billion in housing loans under plan for model neighbourhoods

Dubai: Sheikh Hamdan approves Dh7 billion in housing loans under plan for model neighbourhoods

Dubai: Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, today approved a comprehensive vision for the creation of model neighbourhoods throughout Dubai. This comes in line with a series of initiatives aimed at bettering the lives of Dubai’s citizens, reflecting the government’s main agenda of providing the highest quality of life. As part of the new vision, 11,500 plots of land have been allocated for housing Dubai’s citizens. This significant commitment to residential development is further bolstered by the approval of housing loans totalling Dh7 billion, set to benefit around 7,000 applicants. Understanding the need to support the city’s most vulnerable populations, the Crown Prince also announced a substantial increase in financial allocations. Annual provisions for low-income individuals will see a rise to Dh438 million, while people of determination will have a dedicated fund of Dh70 million. Moreover, the government will launch a programme aimed at facilitating better health services for senior citizens, expected to benefit 19,000 individuals. Sheikh Hamdan emphasised that, under the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai, the efforts continue tirelessly to