x Abu Dhabi, UAE Friday 21 July 2017

Housing scheme offers discounted materials

Emiratis allocated funds through the Sheikh Zayed Housing Programme will be given discounts on building materials.

Emiratis allocated funds through the Sheikh Zayed Housing Programme will be given discounts on building materials for their homes, WAM, the state news agency, has reported.

Mohammed Abdul Aziz Jasim, the scheme's acting director general, said it had signed an agreement with 34 construction companies to give Emiratis discounts of between 5 and 35 per cent on building materials. Mr Jasim said it would result in a reduction of between 15 and 20 per cent in the overall cost of building a home.

"The door is still open for other companies to join this national initiative for achievement of social stability," he was quoted by WAM as saying.

WAM reported a housing project costing Dh1 million could save as much as Dh200,000.

About 12,500 out of 24,500 of those who received grants would benefit from the offer, Mr Jasim said, without saying why the reduction did not apply across the board.

The Sheikh Zayed Housing Programme grants assistance to thousands of Emiratis a year.

It offers interest-free loans and grants to buy or build a new home, or to maintain or extend an existing one.

It also provides completed housing within residential compounds, particularly in the Northern Emirates.

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