The UAE cabinet approved plans to build more 7,200 houses for its citizens over the next three years, Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai, announced via Twitter.
The $1.9 billion (AED 7 billion) plan will see authorities provide “citizens with a modern infrastructure that takes into account sustainability and provides a green environment with a healthy and clean atmosphere for families with global environmental standards,” the post read.
“Today, about 80 percent of our citizens own their own houses, which is among the highest rates worldwide in home ownership,” he added. “The state will not stop supporting its citizens and providing them with a better and happier life. Our financial resources will remain in their service. Our government will remain the measure of their lasting success, their happiness and their comfort.”
The announcement comes after the Ruler of Dubai passed a new law aimed at regulating the sale of lands and property granted in the city.
The decree allows for UAE national beneficiaries of the grant, or legal representatives, to sell the land or property granted to them if they intend to buy another house or plot of land, or if the house does not satisfy their requirements.
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