Dubai grants $1.52bn land plots, mortgages to citizens

By Backend Office, Desk Reporter
    City of Dubai

    Dubai Ruler and UAE Prime Minister and Vice President Sheikh Mohammed bin Rashid Al Maktoum have announced directives to designate 3,000 land plots and mortgages worth $1.52 billion to UAE citizens.

    The municipality will begin issuing 3,000 land plots to eligible Emiratis after the Eid Al-Fitr holidays with one of the plots being allotted in a 247-hectare piece of and in Nad Hessa, located on Sheikh Mohammed bin Zayed Road, Dubai Municipality Director Dawood Al Hajri added. The second plot of 128 hectares is located in Al Aweer, on Emirates Road.

    Once issued, Dubai Municipality will render services to residents of the area, including facilities and services.

    Earlier this week, Abu Dhabi granted $1.5 billion in housing loans, houses and residential plots to Emirati citizens. The initiative which was supported by Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed Al Nahyan is expected to benefit more than 5,500 UAE nationals in the emirate.