According to the Sheikh Zayed Housing Program, 4,334 decisions totaling AED3.34 billion were made in 2023. Among them were 1,025 housing grants at AED682,300,000 and 3,015 housing finance decisions at AED2,380,551,000.
The Sheikh Zayed Housing Program’s Director-General, Mohammed Al Mansoori, reported that closed loan files make up 9.4% of the total, while active loan decisions total AED 17.502 billion, or 90.6%.
The Sheikh Zayed Housing Programme was founded in 1999 to improve Emirati families’ quality of life and the general well-being of the populace through sustainable housing solutions. Thanks to the astute leadership’s forward-thinking vision, the Program has achieved remarkable milestones that have positively impacted thousands of lives.
Speaking on the achievements, Al Mansoori stated, “Over 91% of citizens now own residences. This is one of the highest rates globally. Additionally, the Programme was able to reduce the time needed for a citizen to obtain a housing support decision, whether a loan or a grant, from 4.42 years in 2017 to 1.07 years in 2023. Moreover, the number of decisions has surged. In 2023, 4,334 support decisions were made, compared to 835 in 2021.”
He added, “Since the launch of the Housing Policy mid-2022, decisions for 6,235 housing loans valued at AED4.953 billion have been approved in collaboration with banks. The compliance rate has reached 95.92%, while the percentage of meeting housing needs has been 90%, and the percentage of reducing accumulated applications has reached 58%, going down from 13,666 applications in 2020 to 5,830 in 2023.”
The Program is based on objective standards that guarantee equity and transparency and make sure that assistance reaches the people who need it the most.