UAE: 3,000 home loan beneficiaries to be announced this year – News

500 new housing policy beneficiaries announced

Photo: Wamm

Energy and Infrastructure Minister Suhail bin Mohammed Al Mazrouei said several leadership directives will be implemented for the new home loan policy.

He praised the UAE’s wise leadership’s interest in providing sustainable government housing to support Emiratis, improve family stability and provide them with a decent life.

On the occasion of the signing of a joint memorandum of understanding between the Ministry of Energy and Infrastructure, represented by Sheikh Zayed’s housing scheme, and four national banks, First Abu Dhabi Bank (FAB), Emirates NBD, Dubai Islamic Bank and Abu Dhabi Islamic Bank during signing,

He added that 3,000 home loan beneficiaries will be announced in 2022; 500 housing decisions per month, the names of beneficiaries for the first phase of the new housing policy will be announced, including 500 decisions worth Dh400 million.

The MoU was signed by Sheikh Zayed Housing Programme Director Mohammed Al-Mansoori and representatives of the National Bank in the presence of some officials.

Al Mansoori explained that the MoU supports the new policy based on the National Bank taking over the entire process of financing housing loans for citizens, with the Sheikh Zayed Housing Scheme financing the value of loan interest on behalf of citizens.

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Sheikh Zayed Housing Programme Director pointed out that the MoU targets national banks that have extensive experience in housing finance and have worked with local housing authorities.

He explained that the Ministry of Energy and Infrastructure aims to meet citizens’ needs for government housing, provide multiple financing options at competitive prices, reduce waiting times for housing assistance and enable citizens to obtain competitive supplemental loan prices. .