MBRHE to Grant Dh128m in Housng Loans

March 9, 2009
Dubai

The Board of Directors at the Mohammed bin Rashid Housing Establishment (MBRHE) announced that they will be granting 171 new housing loans valued at AED 128,250 to Emiratis in Dubai.

Sami Gargash, Deputy Managing Director of MBRHE, has guaranteed that all applicants who meet the Establishment’s criteria will receive loans.

“We are also processing applications submitted by Nationals to other foundations that previously handled housing loans in Dubai,” said Gargash.

MBRHE are offering three types of loans; a private housing loan for the construction of a residential property, a residential loan for the purchase of a built residence and a renovation loan for the sole purpose of housing renovation. The residential loan is for approximately AED 750,000 whilst the renovation loan is valued at AED 300,000.

To secure additional funds, MBRHE coordinates with National Banks and Financial Institutions in the UAE.