UAE Cabinet Launches New Platform to Help Emiratis Build New Homes
- Publish date: Wednesday، 24 May 2023 | Last update: since 5 days
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According to the UAE Cabinet, it has launched a new platform to assist and help Emiratis who are planning to build a new home.
The Cabinet has given a name for the platform which indicates the meaning of “home” in Arabic, stated Sheikh Mohammed Bin Rashid, Prime Minister and Ruler of Dubai, who chaired the meeting at Qasr Al Watan in Abu Dhabi.
The platform is intended to make the buildings’ construction process easier for citizens by providing them with construction solutions, banking facilities, and special offers during the building of their homes.
"The goal is to enable citizens to benefit from the same commercial facilities that government entities receive during construction, with the aim of reducing costs and improving quality," tweeted Sheikh Mohammed on Twitter.
According to Sheikh Mohammed, the Cabinet has given the approval for restructuring of the Emirates Investment Authority (EIA) board of directors, with Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of the Presidential Court, as chairman.
"The authority manages the investments and development of the assets of the Federal Government and aims to raise the income of the Emirates' budget through these investments," stated Sheikh Mohammed.
In 2021, the EIA established an investment strategy and tactics to double the size of its assets within 10 years. This is through investing in new potential sectors or by increasing the investment through its existing assets, which in return, will generate higher returns on its investments.