UAE’s new housing policy lets citizens sell homes and transfer mortgages

The United Arab Emirates (UAE) has recently introduced a series of substantial policy revisions designed to enhance housing, healthcare, and environmental sustainability. These changes were announced following a Cabinet meeting chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.

  1. Housing Policy Enhancements for Emiratis:

The UAE government has endorsed a housing policy with the welfare of Emirati citizens in mind. Key elements of this policy include:

  • Emiratis will now have the option to replace or resell their homes.
  • Mortgage transfers will be permitted, providing greater flexibility in housing arrangements.
  • The approval of flexible loan schemes to facilitate easier access to housing assistance for Emiratis.

This demonstrates the government’s dedication to ensuring suitable housing for its citizens. Beneficiaries of housing assistance can avail of these new policies by submitting applications for mortgage transfers to the Ministry of Energy and Infrastructure.

  1. Establishment of Emirates Drug Establishment:

The Cabinet has also given the green light to the creation of the Emirates Drug Establishment, a federal entity aimed at bolstering the UAE’s global standing in the pharmaceutical and medical industries. Key features include:

  • Promotion of research and development in the pharmaceutical sector.
  • Facilitation of pharmaceutical investments.
  • Implementation of a national system to monitor medical products from production to consumption.
  • Regulation of various medical products, such as pharmaceuticals, healthcare items, medical devices, and more.
  • Responsibility for establishing a national pricing system for medical products.

Dr. Thani bin Ahmed Al Zeyoudi, as Chairman of the Board of Directors, will lead this establishment, playing a pivotal role in enhancing the production and export of high-quality medical and pharmaceutical products.

  1. Integrated Management of Recyclable Materials:

The UAE has introduced a new policy for the comprehensive management of recyclable materials, encompassing items like used tires, electronic waste, plastic waste, used cooking oils, and aluminum dross. This policy underscores the UAE’s commitment to environmental sustainability and responsible waste management.

  1. Professional License Policy for Schools:

The Emirates Schools Establishment will implement a professional license policy. This policy aims to provide recruitment guidance, training, and promotion procedures to enhance the quality of education in the UAE.

  1. Gulf Academy for Strategic and Security Studies Headquarters:

The UAE is poised to host the headquarters of the Gulf Academy for Strategic and Security Studies, further solidifying the nation’s role in fostering regional security and strategic thinking.

These recent policy changes underscore the UAE’s commitment to enhancing the well-being of its citizens, improving healthcare services, promoting environmental sustainability, and elevating the quality of education in the country.

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