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Housing loan worth Dh147m okayed for Emiratis

DUBAI — The board of the Mohammed bin Rashid Housing Establishment (MBRHE) has approved 200 housing loan applications of Emirati nationals for a total of Dh147 million .

The move is the implementation of the directives of His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, and in line with the MBRHE’s strategy of approving 100 housing loans per month to deserving applicants.

The approval came during the MBRHE board meeting, presided over by the board chairman, Khalfan Ahmed Hareb.

In a statement after the meeting, Hareb said the MBRHE provided and supervised architectural and building designs for the villas to ensure they match with the taste and requirement of each beneficiary. “The MBRHE also ensures that the houses meet all health and leisure conditions, while those built for people with special needs meet all the requirements of this category of the society,” he added.

Engineer Rashid Mohammed Al Mutawwa, CEO and General Manager of the MBRHE, said the 200 approved housing loan applications were just the beginning, to be followed by more similar steps. He said the loans were for building or purchasing of private homes. A web site will also be developed soon to enable clients process their transactions online.