The Dubai Crown Prince also approved giving first-degree family members priority in the allocation of residential land plots and housing units in the same residential area.
The Crown Prince of Dubai and Chairman of Dubai's Executive Council, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, has approved the launch of a digital platform for Emiratis enrolled in Dubai's housing program to exchange grants, land plots, and housing units among themselves.
Last month, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, approved a Dhs65 billion allocation for an Emirati housing program in Dubai.
The budget will be used to provide housing for Emiratis over the next two decades in order to meet the demand from citizens during that time period.
The program is part of the Dubai 2040 Urban Master Plan, which aims to advance the emirate's urban growth and sustainable development while also improving residents' quality of life.
The housing program includes the provision of 4,000 plots of land for Emirati citizens, as well as an increase in the total area of land plots allocated to Emirati citizens to 1.7 billion square feet, in order to meet citizens' needs over the next 20 years.
In addition, under the program, emiratis in Dubai will be eligible for housing loans of up to Dhs1 million.
Source: Gulf Business