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Housing Policy in UAE

New Housing Policy in UAE Allows Citizens to Transfer Mortgage and Sell Property

A new housing policy has been approved in the UAE that now permits citizens to resell or replace their homes or transfer mortgages.

Under the new policy, Emiratis will also be able to benefit from flexible loan schemes. This came after a cabinet meeting took place last Monday in Abu Dhabi.

The said meeting was chaired by the Ruler of Dubai and the Prime Minister and Vice President of the UAE, His Highness Sheikh Mohammed bin Rashid Al Maktoum.

The approval

The mortgage transfer and housing assistance required associated with the Sheikh Zayed Housing Programme were approved by the Cabinet.

This move is part of the efforts of the UAE to provide Emiratis with suitable housing. An application can be sent by beneficiaries of housing assistance to the Ministry of Energy and Infrastructure to apply for a mortgage transfer.

On November 7th and 8th, the UAE Government Annual Meetings will be held in Abu Dhabi. Sheikh Mohammed bin Rashid will chair the meeting.

His Highness, Sheikh Mohammed bin ZayedAl Nahyan, the President, will also chair the meeting. More than 500 dignitaries will participate in the meeting.

These include senior officials, ministers and heads of UAE executive boards.

The meetings

Taking to X, Sheikh Mohammed said that the meetings provide decision-makers in the UAE with the largest national forum and gives them the opportunity to review and evaluate their achievements.

It is also a chance for them to establish their objectives and priorities in order to fulfill the aspirations of the people.

Approval was also granted by the Cabinet for establishing a federal body that would strengthen the position of the country as a global hub for medical and pharmaceutical industries.

Research and development in the sector will be promoted by the Emirates Drug Establishment and it will also facilitate investments in pharmaceuticals.

More details

Dr. MahaBarakat has been appointed as the Vice-Chairperson, while Dr. Thanibin Ahmed Al Zeyoudi will serve as the chair of the Board of Directors.

Sheikh Mohammed said that the corporation would introduce and then manage a national system aimed at monitoring and tracking medical products, starting from the factory and going to the consumer.

The body would also assist in improving the production and export of pharmaceutical and medical products and also ensure their safety, effectiveness, quality and availability.

Some of the medical products it will manage and regulate include medical devices, fertilizers, veterinary products, pesticides, food supplements, genetically modified organisms (GMOs), healthcare, plant growth regulators, agricultural additives and pharmaceutical products.

The establishment would have the responsibility of developing a national framework for non-clinical and clinical trial and studies and pharmaceutical research.

It would also be able to issue licenses and also monitor the companies and factories making medical products, along with contractual companies and pharmacies that support their development.

Along with these policies, the Cabinet also gave approval for a policy aimed at managing recyclable materials.

The list of materials now includes plastic waste, aluminum dross, used cooking oils, tyres and electronic waste.

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