Dhs225m housing loans approved
The Mohammed bin Rashid Housing Establishment (MBRHE) has approved 300 new housing loans to the tune of Dh225 million for February.
The move is in line with the directions of His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to double the number of housing loans on a monthly basis from 150 to 300, a Press release said.
The MBRHE will announce the 150 names of the second batch of beneficiaries of housing plots tomorrow. The Establishment has decided to announce the names on a weekly basis and in batches to streamline the organisation of the allocations.
The plots will be given to those who have the means to build their own houses either on their own or by acquiring loans from the MBRHE, the Shaikh Zayed Housing Programme or other sources.
Board Member and Executive Director of MBRHE, Engineer Rashid Mohammed Al Mutawwa, said, each person whose name appears on the list of beneficiaries must have sufficient funds or should take a loan. All the beneficiaries would be given a year to acquire a building permit, and two years for completion of the building's construction.
He said that from March 2, the beneficiaries should contact the Al Tawwar and Umm Suqeim branch of Dubai Municipality to register their names.
MBRHE will later contact the municipality to order the release of the land, which the beneficiary can finally receive from the Municipality's Land and Area Division a fortnight later after completing the handover procedures. Source
The move is in line with the directions of His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to double the number of housing loans on a monthly basis from 150 to 300, a Press release said.
The MBRHE will announce the 150 names of the second batch of beneficiaries of housing plots tomorrow. The Establishment has decided to announce the names on a weekly basis and in batches to streamline the organisation of the allocations.
The plots will be given to those who have the means to build their own houses either on their own or by acquiring loans from the MBRHE, the Shaikh Zayed Housing Programme or other sources.
Board Member and Executive Director of MBRHE, Engineer Rashid Mohammed Al Mutawwa, said, each person whose name appears on the list of beneficiaries must have sufficient funds or should take a loan. All the beneficiaries would be given a year to acquire a building permit, and two years for completion of the building's construction.
He said that from March 2, the beneficiaries should contact the Al Tawwar and Umm Suqeim branch of Dubai Municipality to register their names.
MBRHE will later contact the municipality to order the release of the land, which the beneficiary can finally receive from the Municipality's Land and Area Division a fortnight later after completing the handover procedures. Source
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