Housing loans offered by the Zayed Housing Programme must be increased to Dh800,000 from the current Dh500,000 following Cabinet approval and President His Highness Shaikh Khalifa Bin Zayed Al Nahyan’s final endorsement, members of the Federal Council told Abdullah Bel Haif Al Nuaimi, Minister of Public Works and Chairman of Zayed Housing Programme.
The FNC’s demand to increase the salary ceiling for housing grant applicants to Dh20,000 from the current Dh10,000 was turned down due to the country’s policy to build houses for citizens, the Cabinet said in a letter signed by Mohammad Abdullah Al Gergawi, Minister of Cabinet Affairs.
The House has repeatedly pressed for the housing loans and grants offered by the Programme to be increased.
Hamad Al Rahoumi, a representative from Dubai, said housing loans should be increased so that citizens are not forced to borrow from banks at high interest rates.
‘Fast-track buildings’
The minister said the Housing Programme offers loans and grants of between Dh500,000 and Dh750,000 each, stressing that the ceiling on loans are constantly reviewed to meet the needs of citizens.
The programme offers several services, including houses built according to high technical standards, interest-free loans to buy additional homes and non-refundable housing grants.
Members of the House demanded the government fast-track the building of 40,000 houses ordered by Shaikh Khalifa in 2008.
They also demanded an increase in the budget of the Shaikh Zayed Housing Programme.
Members of the Federal National Council have demanded that a backlog of more than 45,000 applications for housing loans and grants be cleared.
