Mon 12-09-2022 12:56 PM
DUBAI 12th September, 2022 (WAM) -- H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, has launched an integrated housing plan to provide 15,800 homes for nationals in Dubai over the next four years.
The move follows the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai.
Sheikh Hamdan said, "Developing high-quality housing for nationals is a major priority for His Highness Sheikh Mohammed bin Rashid Al Maktoum, and this vital area is overseen by His Highness. I follow up on the progress of housing programmes with my brother H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance."
"Our objective is not only to provide homes for nationals, but also to develop integrated residential communities, provide a high quality of life and create a social system that ensures family stability.
"Over the coming months, we will launch a series of community projects under the auspices of the Higher Committee for Development and Citizens Affairs to ensure a high quality of life for all members of the community," said His Highness Sheikh Hamdan during a tour of several housing projects. He was accompanied on the tour by His Excellency Mattar Al Tayer, Commissioner General of Infrastructure, Urban Planning and Wellbeing Track; and Omar Bu Shehab, Executive Director of the Mohammed bin Rashid Housing Establishment.
The projects His Highness visited during the tour included Al Warqa 4 and Al Khawaneej 2 where construction works are underway on several housing projects worth AED1.7 billion. During the tour, His Highness was briefed on the new vision and plan of the Mohammed bin Rashid Housing Establishment focused on offering diversified housing options for nationals and accelerating the processing of all housing applications, over the next 20 years.
The plan overseen by the Higher Committee for Development and Citizens Affairs aims to provide housing services in line with the vision of the leadership and build 15,800 homes for nationals in Dubai by 2026. It also seeks to implement the approved housing programme in Dubai, which features the construction of 4,000 residential units with different options by 2026.
45% completion rate in National Housing Project in Al Warqa 4 During the visit to the Al Warqa Housing Project, Sheikh Hamdan reviewed models of villas. Construction works in the AED177 million project have achieved a completion rate of 45%. The 136 villas being built as part of the project are designed to ensure optimal utilisation of space. Each villa has four bedrooms and other residential facilities. The completed units will be delivered in 2023.
1050 villas in the National Housing Project in Al Khawaneej 2 During the visit, Sheikh Hamdan also reviewed plans for upcoming projects that form part of the Al Khawaneej 2 National Housing Project to be built at a total cost of AED1.56 billion. The project features the construction of 1050 housing units including villas, semi-detached villas and townhouses.
As part of the 20 year national housing programme launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum last September with a historic budget of AED65 billion, housing loans worth AED4.8 billion have been approved in a single year. A total of 4,764 approvals have also been provided to date. The value of housing loans for citizens is expected to exceed AED13 billion by 2026.