LONDON: The Dubai government is investing $1.72 billion in land and housing for more than 4,600 Emirati citizens, the emirate’s ruler announced on Sunday.
Sheikh Mohammed bin Rashid Al-Maktoum also announced in a post on Twitter he had approved the building of a 1,100-villa housing complex in Al-Khawaneej.
The UAE government offers housing grants and loans for eligible Emirati citizens, usually those in the lower income bracket, through the Sheikh Zayed Housing Program (SZHP) established in 1999.
According to the government website, the program provided homes to 14,500 Emiratis in the years 2000 to 2012.
In February, the UAE cabinet approved the SZHP’s budget at a cost of $3.26 billion over the coming years.