Zayed housing project on track, says Hamdan

posted on 14/12/2011: 547 views

Sheikh Hamdan Bin Mubarak Al Nahyan, minister of the public works board and chairman of the Sheikh Zayed Housing Programme (SZHP), has stressed that the SZHP is on its course to meet the needs of UAE citizens.

According to him, thanks to the support and guidance of President His Highness Sheikh Khalifa Bin Zayed Al Nahyan and Vice President and Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed Bin Rashid Al Maktoum, the programme has become one of the UAE government's most prominent achievements.

He highlighted the significance of the Memorandum of Understanding between the SZHP and the Central Bank of the UAE, indicating that the signing of partnership agreement with the bank will open new horizons for cooperation with the national banks through provision of financial resources to implement the national strategy for housing.

The total number of projects implemented until November are 25,264 with the value of housing assistance reaching over Dhs11.827 billion.

The MoU set a mechanism to facilitate participation of the banking sector in financing the residential units for UAE nationals through handling of secured loans interest by the SZHP and the local housing programme, considering these facilities are provided to the public institution and for non profit. In return the SZHP will provide the Central Bank with data and information related to loans. - Emirates News Agency, WAM

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