The UAE government has approved a new housing policy to finance government housing program loans, through which the value of housing loans is financed through cooperation between the Sheikh Zayed Housing Program and national banks, with the aim of sustaining funding sources and meeting current and future housing needs, in addition to enhancing partnership between The public and private sectors and facilitating the process of financing housing loans for citizens benefiting from the program.
In 2021, the Council of Ministers approved Resolution No. 61, which stipulates setting new conditions and controls for the housing assistance program with the aim of enhancing the stability of families and ensuring the achievement of an adequate level of housing support.
According to the new housing policy, national banks will undertake the entire process of financing citizens' housing loans, provided that the Sheikh Zayed Housing Program finances the value of the interest resulting from the loan on behalf of the citizen, which contributes to doubling the number of decisions that can be issued annually for loans, especially during the five years. In addition to the sustainability of financing through partnership with the private sector.
Through this advice, the Ministry of Energy and Infrastructure aims to monitor all opinions and proposals about the housing policy after a year of its announcement and its effectiveness in facilitating the process of financing housing loans for beneficiary citizens.
The digital advice was prepared to assess the extent of satisfaction of the public and program beneficiaries about the housing policy for financing loans for government housing programs through the opinions and suggestions of participants and reflect this on developing efforts to develop the policy and awareness methods.
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