Dubai Committee Authorize Rapid Allocation of 2000 Residential Plots

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  • 4 months ago
  • Dubai, Dubai Properties, Real Estate Dubai,
  • 1
Residential Plots in Dubai

They Will Be Issued Beginning on Wednesday, July 27th

A high-level committee led by the Crown Prince of Dubai has approved the urgent release of 2,000 residential land plots in Umm Nahad Fourth region. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Prime Minister of the UAE issued the directions that led to this.

The distribution took place. Dubai’s Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum presided over the Higher Committee for Development & Citizens Affairs. Sheikh Hamdan stated we regularly monitor the housing program files. In order to carry out the instructions of Sheikh Mohammed bin Rashid to meet all the needs of inhabitants and improve their quality of life.

Beginning on Wednesday, July 27, the plots in Dubai will deliver to qualified people. Who have received permits from the Mohammed bin Rashid Housing Establishment via the Maskani App. Citizens can choose the plot sites that work best for them using the app.

The number of housing loans for Dubai residents have been increased to Dh1 million. With really no interest rate, applied to qualified categories, per Sheikh Mohammed bin Rashid’s approval. The package also removed the requirement that a certain balance reaches in order to obtain lands in Dubai. In addition, reduced the prices of a few of the Mohammed bin Rashid Housing Establishment’s homes by about 10%. The monthly exemption for housing loan repayments was also reduced to only 15% of the borrower’s monthly income.

To help residents in Dubai build their private villas, a number of programs have been authorized. These include the exclusion of mortgage fees for approved housing loans. Exclusion of power connection fees for citizens building their first homes, providing the construction cost doesn’t really exceed Dh4 million. To strengthen family ties and societal cohesiveness, preference give to housing arrangements for family members who live nearby.

A housing budget of Dh65 billion for Dubai residents’ housing for the following 20 years. That already agreed upon by Sheikh Mohammed bin Rashid.

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