UAE’s Latest Housing Policy Allows Citizens to Resell homes, Transfer Mortgages

The UAE has announced significant changes in its policy. The goals are to enhance housing, healthcare, and environmental sustainability. But the policy was announced at a recent cabinet meeting chaired by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

Read More: Mortgage financing increased 44% during the third quarter

Moreover, the UAE government has approved a housing policy to assist Emirati citizens. The new housing policy in the UAE consists of:

• Emiratis are allowed to trade or resell their homes.
• Mortgage transfers are permitted, providing greater flexibility in home arrangements.
• This policy will help Emiratis access housing assistance by providing an easy loan scheme.

The policy also covered the following areas:

• Development of the Emirates Drug Establishment
• Integrated Management of Recycled Products
• Professional Licensing Policy for Schools
• Gulf Strategic and Security Research Center Headquarters

Read More: Residential rents rise by 46% in popular areas of Dubai

These latest policy changes demonstrate the government’s commitment to providing decent housing for its residents, along with excellent health care, environmental sustainability, and quality education in the country. Additionally, by applying to the Ministry of Energy and Infrastructure, the benefits of housing support can apply for a mortgage transfer.

Stay connected to Red Marketing & Real Estate for more updates