UAE: Nearly 10,000 new homes will be handed to citizens by end of 2022

Thousands of new homes are being built across the country for Emiratis and will be handed over to the beneficiaries by the end of 2022, said a UAE minister.

On Tuesday, Suhail bin Muhammad Faraj Al Mazrouei, the Minister of Energy and Infrastructure, told members of the Federal National Council (FNC) that the ministry is constructing 9,500 new homes for the families of UAE citizens through the Sheikh Zayed Housing Programme.

"The ministry has developed a long-term housing strategy that extends to 2040, using Artificial Intelligence (AI) to predict housing needs and available land in the various emirates in the country,' said Al Mazrouei.

He added, "After communicating with thousands of beneficiaries of the Sheikh Zayed Housing Programme and listening to their various observations regarding housing design; the ministry finished identifying 100 housing design models, from which beneficiaries can choose any of them according to what suits their needs."

The minister pointed out that the percentage of UAE citizens owning housing at the state level will reach 86.3% by the end of 2021, which is one of the highest rates globally.

"This week, we will announce new housing projects and plans for the Zayed Housing Programme. This will make it easier for the beneficiaries to choose from the various plans and benefit from the program," said Al Mazrouei.

He noted that the Sheikh Zayed Housing Programme has completed 36,000 homes for Emiratis at a cost of Dh41 billion since its inception in 1999.

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In 2018, authorities said that the waiting list for social housing was 2.76 years but expected this to fall to two years by 2021.

The Sheikh Zayed Housing Programme also provides loans to UAE citizens who want to buy or build a new home or maintain or extend their existing house.

If the applicant's loan is more than Dh10,000 it must be paid back, but this is interest-free.

According to authorities, if the applicant's salary is Dh15,000 or less, it is repaid at Dh1,666 a month over 25 years. And if the salary is above Dh15,000, 13.4 per cent of the salary is deducted for repayments.

ismail@khaleejtimes.com

• UAE