UAE’s new housing policy allows citizens to resell houses, transfer mortgage

UAE’s new housing policy allows citizens to resell houses, transfer mortgage

Cabinet meeting chaired by Sheikh Mohammed announces UAE Government Annual Meetings, formation of Emirates Drug Establishment

Sheikh Mohammed chairs the UAE Cabinet meeting on Monday.

Published: Mon 30 Oct 2023, 9:09 PM Last updated: Mon 30 Oct 2023, 10:58 PM

The UAE has approved a new housing policy that allows citizens to replace or resell their houses and transfer mortgage. The policy will also see flexible loan schemes are approved for Emiratis.

This came as His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, chaired a Cabinet meeting in Abu Dhabi on Monday.

The Cabinet approved the requirements for housing assistance and mortgage transfer offered by the Sheikh Zayed Housing Programme. The move is part of the UAE’s efforts to provide suitable housing to Emiratis.

Beneficiaries of housing assistance can now apply for a mortgage transfer from a property to another by sending their applications to the Ministry of Energy and Infrastructure.

UAE Government Annual Meetings

Chaired by the President, His Highness Sheikh Mohamed bin Zayed Al Nahyan, and Sheikh Mohammed bin Rashid, the UAE Government Annual Meetings will be held on November 7-8 in Abu Dhabi. The meetings will witness the participation of more than 500 dignitaries,