UAE to distribute $1.5tn worth of land plots, mortgages to locals

The Dubai ruler has issued the decision to provide locals with housing that meets their needs. (File/AFP)

• The distribution of land plots to eligible Emiratis will begin after Eid Al-Fitr

DUBAI: The UAE will distribute $1.5 trillion worth of land plots and mortgages to its local population in a bid to ensure Emiratis “live a life of prosperity and happiness,” state news agency WAM has reported.
Sheikh Mohammed bin Rashid Al-Maktoum, the Ruler of Dubai and the country’s vice president and prime minister, has issued the decision to provide locals with housing that meets their needs.
Director General of Dubai Municipality Dawood Al-Hajri said distribution of land plots to eligible Emiratis will begin after Eid Al-Fitr.
He added one set of plots will be allotted in a 274-hectare piece of land in Nad Hessa, while the second set of plots will be allotted in a 128-hectare land in Al-Aweer.