Today: 21 June 2025
10 May 2022
2 mins read

Cabinet approves housing loans budget of AED 12 billion

Chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, the UAE Cabinet meeting adopted a number of initiatives and legislations aimed at further developing government work…reports Asian Lite News

The meeting was held at Expo 2020 Dubai, in the presence of H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and Deputy Prime Minister and Minister of Finance; H.H. Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior; and H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs.

Sheikh Mohammed bin Rashid said, “I chaired a cabinet meeting today, where we adopted a housing loans budget of AED 12 billion for Sheikh Zayed Housing Programme during the coming years. The aim is to fulfil accumulated and expected requests and reduce the waiting period during the coming years.”

He added, “We approved the formation of the “Emirates Council for Balanced Development” chaired by Sheikh Theyab bin Mohamed bin Zayed Al Nahyan. The council goal is to develop plans, implement projects, and build government-private partnerships. It aims to develop the UAE’s regions, providing opportunities for citizens and a better future for children. I am optimistic about Theyab bin Mohammed and the youth’s energy.”

Sheikh Mohammed mentioned, “We approved today a new policy for the private sector companies, in order to support Emiratization goals and plans, provides additional incentives for companies supporting Emiratization, and consolidates the partnership between the government and the private sector in this field.”

He affirmed, “Citizens will remain the priority and the government will support them continuously in housing, development, education and economic and labor opportunities. The Government role is to establish a balance between our rapid economic growth and providing a better life for our citizens.

ALSO READ: Top nationalities continue to invest in Dubai real estate

“Today at the Cabinet meeting, we also approved a number of international economic, security and environmental agreements and an institutional ecosystem to promote tolerance and coexistence.”

The Cabinet approved a new policy of housing loans programme, according to a mechanism that ensures covering all expected requests for the coming years, in order to reduce the waiting period.

The Cabinet approved a new policy for the classification of businesses in the private sector, according to a specific mechanism that enhance the flexibility and competitiveness of the labor market and continuously supporting the growing economic system in the country.

Previous Story

CE-Creates merges with hatch & boost in MENA’s first venture-builder merger

Next Story

US is at last getting serious about countering OPEC

Latest from Arab News

IAEA sounds nuclear alarm in Iran

UN nuclear watchdog urges restraint, calls for diplomacy to prevent crisis. The head of the International Atomic Energy Agency (IAEA), Rafael Grossi, has issued a stark warning about the potential nuclear fallout

Trump says it’s hard to tell Israel to stop

President downplays European diplomacy as Israeli jets strike over 35 Iranian missile sites US President Donald Trump has said it would be “difficult” to ask Israel to stop its ongoing airstrikes on

War on Children Worsens, Says UN

The new high surpassed 2023, another record year, which itself represented a 21 per cent increase over the preceding year….reports Asian Lite News Violence against children in conflict zones soared to record

US weighs joining fight with Israel

Europe’s push for diplomacy is in sharp contrast to messages from Washington, with President Trump openly weighing bombing Iran  Iran’s foreign minister will meet in Geneva with counterparts from Germany, France and

Kremlin warns US against Iran strike

Putin revealed that Moscow had proposed several compromise frameworks to all involved parties — including the US, Israel, and Iran Washington would be making a serious mistake by launching an attack on
Go toTop

Don't Miss

UAE prioritises ‘relief, recovery & peace’ at COP28

UAE convenes UN Security Council Open Debate emphasising linkages between

OPEC+ Agrees on Extension for Oil Output Cuts

OPEC+ is an oil-producer group comprising member countries of the