Six hundred home loans for UAE citizens in Dubai have been approved by the government as part of the national housing programme.
Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, said on Twitter that the loans were approved in line with instructions from Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai.
The Crown Prince said the value of the loans was Dh600 million.
"Under the directives of Sheikh Mohammed bin Rashid Al Maktoum, we approved today, within the housing programme for citizens in Dubai, 600 housing loans worth AED600 million while raising the value of the housing loan to AED1 million," Sheikh Hamdan wrote.
"We are following up on the housing file of citizens and everything that makes them happy and provides a decent life for them," he said.
In September, The National reported that Emirati families in Dubai will be eligible for loans of up to Dh1 million to help them get on the property ladder.
Sheikh Mohammed approved the measure as he gave the go-ahead for 4,000 homes to be built.
The value of the project is Dh5.2 billion.
That decision came after Sheikh Mohammed said that Dh65bn would be allocated to Emirati housing in Dubai in the next 20 years.
On Sunday, Sheikh Mohammed approved the 2022 to 2024 budget of the emirate that allocates Dh181bn ($49.28bn) of expenditure, including Dh60bn set aside for this year.
The new budget supports the emirate's efforts to stimulate its economy and goals of Dubai Strategic Plan 2030, said the Dubai Media Office.
The%20Emperor%20and%20the%20Elephant
%3Cp%3E%3Cstrong%3EAuthor%3A%20%3C%2Fstrong%3ESam%20Ottewill-Soulsby%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPublisher%3A%20%3C%2Fstrong%3EPrinceton%20University%20Press%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPages%3A%20%3C%2Fstrong%3E392%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAvailable%3A%20%3C%2Fstrong%3EJuly%2011%3C%2Fp%3E%0A
It Was Just an Accident
Director: Jafar Panahi
Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr
Rating: 4/5
Tips on buying property during a pandemic
Islay Robinson, group chief executive of mortgage broker Enness Global, offers his advice on buying property in today's market.
While many have been quick to call a market collapse, this simply isn’t what we’re seeing on the ground. Many pockets of the global property market, including London and the UAE, continue to be compelling locations to invest in real estate.
While an air of uncertainty remains, the outlook is far better than anyone could have predicted. However, it is still important to consider the wider threat posed by Covid-19 when buying bricks and mortar.
Anything with outside space, gardens and private entrances is a must and these property features will see your investment keep its value should the pandemic drag on. In contrast, flats and particularly high-rise developments are falling in popularity and investors should avoid them at all costs.
Attractive investment property can be hard to find amid strong demand and heightened buyer activity. When you do find one, be prepared to move hard and fast to secure it. If you have your finances in order, this shouldn’t be an issue.
Lenders continue to lend and rates remain at an all-time low, so utilise this. There is no point in tying up cash when you can keep this liquidity to maximise other opportunities.
Keep your head and, as always when investing, take the long-term view. External factors such as coronavirus or Brexit will present challenges in the short-term, but the long-term outlook remains strong.
Finally, keep an eye on your currency. Whenever currency fluctuations favour foreign buyers, you can bet that demand will increase, as they act to secure what is essentially a discounted property.
Paris Can Wait
Dir: Eleanor Coppola
Starring: Alec Baldwin, Diane Lane, Arnaud Viard
Two stars
Gothia Cup 2025
4,872 matches
1,942 teams
116 pitches
76 nations
26 UAE teams
15 Lebanese teams
2 Kuwaiti teams
Bib%20Gourmand%20restaurants
%3Cp%3EAl%20Khayma%0D%3Cbr%3EBait%20Maryam%0D%3Cbr%3EBrasserie%20Boulud%0D%3Cbr%3EFi'lia%0D%3Cbr%3Efolly%0D%3Cbr%3EGoldfish%0D%3Cbr%3EIbn%20AlBahr%0D%3Cbr%3EIndya%20by%20Vineet%0D%3Cbr%3EKinoya%0D%3Cbr%3ENinive%0D%3Cbr%3EOrfali%20Bros%0D%3Cbr%3EReif%20Japanese%20Kushiyaki%0D%3Cbr%3EShabestan%0D%3Cbr%3ETeible%3C%2Fp%3E%0A
Springtime in a Broken Mirror,
Mario Benedetti, Penguin Modern Classics
