The launch of the Digital Dirham will address the problem and inefficiency of cross-border payments and drive innovations for domestic payments
In his capacity as the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, issued directives to immediately allocate 8,500 land plots to Emirati citizens in Al Yalayis 5 area. The plots are located on an area spanning 120 million square feet.
Sheikh Mohammed’s directives to expedite the allocation of land plots, as part of a national housing programme he launched, reflects his commitment to ensuring the wellbeing and happiness of UAE nationals.
Al Yalayis 5 area will be developed to include 10km of green areas for walking and sports activities. Entertainment areas and other amenities reachable within 20 minutes like grocery stores, a gym and a cycling track, will also be built over an area of 11 million square feet.
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The first phase of allocation of land plots will start from February 28. Citizens who have received the approval of the Mohammed Bin Rashid Housing Establishment are eligible to obtain land plots. Citizens can select the plot that suits their needs using the ‘Emirati’ digital platform on the Dubai Now app. Members of a family will be given priority in obtaining plot allocations in the same neighbourhood.
The launch of the Digital Dirham will address the problem and inefficiency of cross-border payments and drive innovations for domestic payments
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