Dubai, UAE, June 27, 2006: The sales centre of Mohammed bin Rashid Housing Program, a master planned community by the Dubai government for UAE nationals, has relocated to the Amlak Finance office in Gulf Towers, Oud Maitha, near Wafi Mall.
Lead by a committee including the Ruler’s Court, Dubai Municipality and Emaar Properties, the Mohammed bin Rashid Housing Program aims to provide affordable housing to young and middle-aged passport holders in the Emirate. Initiated in June 2005, the project proposes to build 10,000 villas across Dubai in the next three years.
Emaar Properties looks after the master plan, design, sales and marketing, while Dubai Municipality will provide the land and build infrastructure. The first phase of the project, featuring 500 villas of size 2,500 to 4,500 sq. ft. in plots 7,000 to 10,000 sq. ft., is on-going at the Al Warqa area. The villas are priced AED 885,000 to 1.5 million, of which up to AED 750,000 is provided interest-free by Emaar’s mortgage subsidiary, Amlak Finance.
A significant social initiative that specifically addresses the housing issues of those with a monthly income of AED 6,000 to 15,000, the project enjoys the patronage of UAE Vice President and Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed Bin Rashid Al Maktoum. It fetched more than 3,000 applications in less than a few weeks of its launch. Sales requests were earlier handled at an office in The Greens.
“We decided to shift the office to Amlak’s office to ensure that financial enquiries can be more easily streamlined,” said Issam Galadari, Managing Director of Emaar International – Middle East and North Africa. “Interested UAE nationals can clear all their queries with the dedicated Amlak sales team at the new office. Also at hand are Emaar sales executives, who will assist in filling the application forms and deciding on the floor plans.”
“Affordable housing projects are an indicator of the government’s commitment to the local population,” said Ibrahim Hassan Ali, Manager - Mohammed bin Rashid Housing Progam, Amlak Finance. “There have been a number of enquiries to the Mohammed bin Rashid Housing Program and we take pride in supporting such initiatives that contribute to social welfare.”
Apart from building modern lifestyle communities, Emaar is also involved in projects of social significance. Recently, the global real estate major entered into a partnership with the Syrian General Organization for Housing to float a new company that will construct affordable homes for the middle-income population.
For more information, log on to www.nationalhousingdubai.com
