Zayed Housing Programme Announces the Issuance of 4,334 Housing Decisions in 2023

The monumental decision reflects the Programme’s enduring commitment to improving Emirati citizens’ quality of life through sustainable housing.

In a significant announcement, the Sheikh Zayed Housing Programme disclosed the issuance of 4,334 housing decisions in 2023, with a combined value of AED3.34 billion. This comprehensive package includes 3,015 housing finance decisions valued at AED2,380,551,000 and 1,025 housing grants amounting to AED682,300,000, marking a substantial investment in the well-being and future of Emirati families.

Mohammed Al Mansoori, Director-General of the Sheikh Zayed Housing Programme, highlighted the Programme’s impressive strides in housing finance. Active loan decisions reached a staggering AED17.502 billion, constituting 90.6% of the Programme’s efforts. The closure rate of loan files stood at 9.4%, illustrating the efficient administration and support provided to beneficiaries.

Since its inception in 1999, the Sheikh Zayed Housing Programme has been at the forefront of enhancing the quality of life for Emirati citizens, championing sustainable housing solutions. Under the visionary guidance of its leadership, the Programme has achieved significant milestones, positively impacting thousands of lives across the UAE.

Al Mansoori illuminated the Programme’s remarkable achievements: “Over 91% of citizens now enjoy home ownership, one of the highest rates worldwide. Furthermore, we have dramatically reduced the time for citizens to receive housing support decisions from 4.42 years in 2017 to merely 1.07 years in 2023. The volume of support decisions has also seen a marked increase, with 4,334 decisions made in 2023 alone, a significant leap from 835 in 2021.”

He elaborated on the success of the Housing Policy introduced in mid-2022, noting, “Since the policy’s inception, we have approved 6,235 housing loans valued at AED4.953 billion in collaboration with banks. The compliance rate has soared to 95.92%, with the fulfilment of housing needs at 90%, and a 58% reduction in accumulated applications, decreasing from 13,666 in 2020 to 5,830 in 2023.”

The Programme’s commitment to transparent and equitable criteria ensures that support is directed towards those most in need, underlining its role as a cornerstone of social stability and progress in the UAE.