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Dubai United Arab Emirates
Sheikh Zayed Housing Programme has announced that 4,334 decisions were made in 2023 valued at AED3.34 billion. These included 3,015 housing finance decisions at AED2,380,551,000 and 1,025 housing grants at AED682,300,000.
Mohammed Al Mansoori, Director-General of Sheikh Zayed Housing Programme, said that active loan decisions amount to AED17.502 billion, at 90.6%, while the percentage of closed loan files is 9.4%.
Since its establishment in 1999, Sheikh Zayed Housing Programme has committed to enhancing citizens' well-being and the quality of life for Emirati families through sustainable housing solutions. Owing to the future-oriented vision of wise leadership, the Programme has made notable achievements that have touched the lives of thousands of people.
Speaking on the achievements, Al Mansoori stated, "Over 91% of citizens now own residences. This is one of the highest rates globally. Additionally, the Programme was able to reduce the time needed for a citizen to obtain a housing support decision, whether a loan or a grant, from 4.42 years in 2017 to 1.07 years in 2023. Moreover, the number of decisions has surged. In 2023, 4,334 support decisions were made, compared to 835 in 2021."
He added, "Since the launch of the Housing Policy mid-2022, decisions for 6,235 housing loans valued at AED4.953 billion have been approved in collaboration with banks. The compliance rate has reached 95.92%, while the percentage of meeting housing needs has been 90%, and the percentage of reducing accumulated applications has reached 58%, going down from 13,666 applications in 2020 to 5,830 in 2023."
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