Six hundred home loans for UAE citizens in Dubai have been approved by the government as part of the national housing programme.
Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, said on Twitter that the loans were approved in line with instructions from Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai.
The Crown Prince said the value of the loans was Dh600 million.
"Under the directives of Sheikh Mohammed bin Rashid Al Maktoum, we approved today, within the housing programme for citizens in Dubai, 600 housing loans worth AED600 million while raising the value of the housing loan to AED1 million," Sheikh Hamdan wrote.
"We are following up on the housing file of citizens and everything that makes them happy and provides a decent life for them," he said.
In September, The National reported that Emirati families in Dubai will be eligible for loans of up to Dh1 million to help them get on the property ladder.
Sheikh Mohammed approved the measure as he gave the go-ahead for 4,000 homes to be built.
The value of the project is Dh5.2 billion.
That decision came after Sheikh Mohammed said that Dh65bn would be allocated to Emirati housing in Dubai in the next 20 years.
On Sunday, Sheikh Mohammed approved the 2022 to 2024 budget of the emirate that allocates Dh181bn ($49.28bn) of expenditure, including Dh60bn set aside for this year.
The new budget supports the emirate's efforts to stimulate its economy and goals of Dubai Strategic Plan 2030, said the Dubai Media Office.
Cinco in numbers
Dh3.7 million
The estimated cost of Victoria Swarovski’s gem-encrusted Michael Cinco wedding gown
46
The number, in kilograms, that Swarovski’s wedding gown weighed.
1,000
The hours it took to create Cinco’s vermillion petal gown, as seen in his atelier [note, is the one he’s playing with in the corner of a room]
50
How many looks Cinco has created in a new collection to celebrate Ballet Philippines’ 50th birthday
3,000
The hours needed to create the butterfly gown worn by Aishwarya Rai to the 2018 Cannes Film Festival.
1.1 million
The number of followers that Michael Cinco’s Instagram account has garnered.
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