Published On:May 23 2020
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Dubai allocates $1.52bn worth of land to Emiratis.

Dubai Ruler and UAE Prime Minister and Vice President Sheikh Mohammed bin Rashid Al Maktoum has announced that allocation of 3,000 land plots and mortgages worth AED 5.6 billion to UAE citizens ($1.52 billion).

According to the UAE’s state-run WAM news agency, Dubai Municipality director Dawood Al Hajri said that the municipality will begin distributing 3,000 land plots to eligible Emiratis after the Eid Al-Fitr holidays.

Al Hajri added that one of the plots will be allotted in a 247-hectare piece of and in Nad Hessa, located on Sheikh Mohammed bin Zayed road.

The second plot – of 128 hectares – is located in Al Aweer, on Emirates Road.

Once distributed, Dubai Municipality will provide services to residents of the area, including amenities and utilities.

On Wednesday, neighbouring Abu Dhabi granted AED 5.5 billion in housing loans, houses and residential plots to Emirati citizens.

The initiative – which was approved by Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed Al Nahyan – will benefit more than 5,500 UAE nationals in the emirate.

www.arabianbusiness.com





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