His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has announced that the country will be allocating up to Dh 32 billion in funds for the development of 34,000 housing units for UAE citizens for the coming 6 years.
We launched a Dh32 billion plan to establish 34,000 housing units for UAE citizens within the next six years. We also raised the income limit of beneficiaries eligible for housing grants from Dh10,000 to Dh15,000, and housing loans from Dh800,000 to Dh1.2 million. pic.twitter.com/1H2OyAxvQ1
— HH Sheikh Mohammed (@HHShkMohd) February 25, 2019
The Dubai Ruler announced the news on his official Twitter page, along with a note that the salary ceiling for those eligible of housing grants has likewise been increased.
اعتمدنا اليوم خلال جولة ميدانية خطط جديدة لإسكان المواطنين .. ٣٢ مليار درهم لإنشاء ٣٤ ألف وحدة سكنية خلال الست سنوات القادمة . ووجهنا برفع سقف راتب مستحقي منح الإسكان من ١٠ الى ١٥ الف .. ورفع قروض مساكن المواطنين في المجمعات السكنية من ٨٠٠ الى مليون ومائتان الف درهم pic.twitter.com/yBVmnmeHL2
— HH Sheikh Mohammed (@HHShkMohd) February 25, 2019
Those with salaries of up to Dh 15,000 will now be eligible for housing grants, up from the earlier salary limit of Dh 10,000.
In addition, the amounts of housing loans as also increased from Dh 800,000 to Dh 1.2 million, for the residential complexes.
