19.8 C
New York
Sunday, April 2, 2023

UAE announces $8.7 billion housing plan for citizens: Dubai Ruler’s tweet

UAE announces .7 billion housing plan for citizens: Dubai Ruler's tweet© Reuters. The Dubai skyline with Burj Khalifa is seen during the late afternoon from the Sheikh Zayed highway

DUBAI (Reuters) – The United Arab Emirates plans to build tens of thousands of housing units for its local population for which the government has allocated 32 billion dirhams ($8.7 billion), according to a plan announced by the country’s vice president and prime minister Sheikh Mohammed bin Rashid al-Maktoum on Monday.

The plan will see 34,000 units built for nationals within the next six years, Sheikh Mohammed, who is also Dubai’s ruler, said in a Tweet.

The income limit for beneficiaries of housing grants was raised to 15,000 from 10,000 dirhams per month, and the maximum value for housing loans was raised to 1.2 million dirhams from 800,000, he said.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source: Investing.com

Related Articles

Stay Connected

- Advertisement -

Latest Articles

Popular Articles