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Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, has launched an integrated housing scheme to 15,800 housing units for Dubai nationals over four years.
The Wham News Agency reported that the move was carried out at the direction 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 the nation is the main priority of His Highness Sheikh Mohammed bin Rashid Al Maktoum, an important area overseen by His Highness. My brother and I His Highness Sheikh follows up on the progress of the housing scheme with Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance.
“Our goal is not only to provide housing for the nation, but also to develop integrated housing communities that provide a high quality of life and create a social system that ensures family stability.
“Over the next few months, we will launch a series of community projects under the auspices of the High Commission for Development and Citizenship to ensure a high quality of life for all members of the community,” Sheikh Hamdan said during a tour of several homes say item.
He was accompanied on the tour by Mattar Al Tayer, Commissioner for Infrastructure, Urban Planning and Welfare Track; and Omar Bu Shehab, Executive Director of the Mohammed bin Rashid Housing Agency.
Projects he visited during his visit included Al Warqa 4 and Al Khawaneej 2, where construction work is underway on several housing projects worth AED 1.7 billion ($462.84 million). During the visit, His Highness was briefed on the new vision and plans of the Mohammed bin Rashid Housing Agency, which is focused on diversifying housing options for nationals over the next 20 years and expediting the processing of all housing applications.
Overseen by the Higher Council for Development and Citizenship, the plan aims to deliver housing services in line with the leadership’s vision to build 15,800 homes for nationals in Dubai by 2026. It also seeks to implement an approved housing scheme in Dubai that includes the construction of 4,000 residential units with different options by 2026.
Sheikh Hamdan reviews villa models during a tour of the Al Warqa housing project. Construction of the AED177 million project has been completed with a 45% completion rate. As part of the project, the 136 villas under construction are designed to ensure optimal use of space. Each villa has four bedrooms and other residential amenities. The completed unit will be delivered in 2023.
Sheikh Hamdan also reviewed plans for part of the upcoming Al Khawaneej 2 national housing project, which has a total cost of Dh1.56 billion. The project builds 1,050 dwellings, including villas, semi-detached villas and townhouses.
As part of the 20-year national housing plan launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum last September, with a historic budget of AED 65 billion, a value of 4.8 billion was approved in one year Home loan in dirhams.
To date, 4,764 approvals have also been provided. The value of housing loans to citizens is expected to exceed Dh13 billion by 2026, the report said.
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