November 3, 2007
Dubai
The Mohammed bin Rashid Housing Establishment (MBRHE) has approved a hike in the minimum number of its housing loan grant from the current100 loans per month to 150, pushing the total up to AED113 million per month. The move is within the framework of the establishment’s new strategy to provide appropriate housing for all citizens. It is also to translate into action the vision of the emirate’s wise leadership.

Commenting on the new development, MBRHE Board Chairman, Khalfan Ahmed Hareb said: The increase in the number of monthly beneficiaries of the loan is another kind gesture of H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai. It also reflects Sheikh Mohammed’s great care for his people and his commitment to provide appropriate housing and all other things that would ensure the comfort of his people.”

“Officials of the Mohammed bin Rashid Housing Establishment have been given directives to translate into action the vision of Sheikh Mohammed bin Rashid regarding housing for UAE nationals,” he added.

MBRHE Chief Executive and Managing director, Engineer Rashid Mohammed Al Mutawwa, said: “The board of the Mohammed bin Rashid Housing Establishment has decided, during its last meeting, to increase the number of housing loans it grants to beneficiaries to a minimum of 150 loans per month, at a total amount of AED113 million per month. This means the grand total of such facility will hit a minimum of 1800 loans at a total of about AED1.350 billion per annum.”

He said the MBRHE was exerting all efforts to provide appropriate housing for the citizens of Dubai, particularly those from the low-income group, including widows, divorced women, heirs and people with special needs, adding that the MBRHE also provides architectural and building designs for villas and supervises the building of those villas to ensure they match the taste and requirements of every beneficiary.

He pointed out that the MBRHE was planning for major activities in the years ahead, as part of its efforts to continue implementing the vision of the leadership as manifested in Dubai housing strategy, which aims at providing appropriate housing to all Dubai citizens. He said the MBRHE was now working towards total transformation to electronic system in all its transactions to enable clients to process their transactions electronically through the MBRHE’s website, adding that clients would be able to fill and present housing loan applications as well as follow-up the transaction online. They can also have access to all information about the MBRHE and post their suggestions via the MBRHE’s website. “All transactions will receive instant attention and response from a qualified team of the establishment’s personnel,” he added.

The MBRHE announced on October 20 the names of 200 beneficiaries of the housing loan at a total of AED147 million.