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Zayed Housing Programme: 4,334 Housing Decisions Made in 2023

Sheikh Zayed Housing Program: AED 3.34 Billion Allocated in 2023

In 2023, Sheikh Zayed Housing Program issued 4,334 decisions, totaling AED 3.34 billion. This included 1,025 housing grants at AED 682.3 million and 3,015 housing finance decisions at AED 2.38 billion.

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Mohammed Al Mansoori, Director-General, reported that closed loan files constituted 9.4% of the total, with active loan decisions amounting to AED 17.502 billion, or 90.6%.

Established in 1999, the Program aims to enhance Emirati families' quality of life through sustainable housing solutions. With visionary leadership, it has achieved significant milestones, increasing homeownership rates to over 91%.

Al Mansoori highlighted the Program's efficiency, reducing the time to obtain housing support from 4.42 years in 2017 to 1.07 years in 2023. The number of support decisions surged from 835 in 2021 to 4,334 in 2023.

Since the launch of the Housing Policy in mid-2022, the Program has approved 6,235 housing loans worth AED 4.953 billion in collaboration with banks. Compliance rate stands at 95.92%, meeting housing needs at 90%, and reducing accumulated applications by 58%.

The Program ensures equity and transparency through objective standards, ensuring assistance reaches those in need.

March 29, 2024 7:04 p.m. 3709

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