The Remarkable Rise of Homeownership: 90% of Emiratis Now Own Homes!

According to His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and the Ruler of Dubai, 2023 has witnessed unaprecedented legislative activity, making it the most significant year in the UAE’s history.

Last year, the nation released a total of 73 federal laws, with 10 of them being introduced for the very first time.

In addition to this, he also disclosed that the percentage of Emiratis who own homes has reached a record level of 90%. Over 4,300 housing choices were made last year, resulting in a total amount of Dh3.2 billion from the Zayed Housing Programme.

In a cabinet meeting at Qasr Al Watan in Abu Dhabi, the leader of the UAE pondered over the progress made by the country in 2023.

During the meeting, it was also discussed that approximately 92,000 UAE nationals have found employment in the private sector as a result of Emiratisation policies.

In terms of the economy, the UAE saw significant growth of 5.9 percent in non-oil sectors during the first nine months of the year. This performance led to the country obtaining the highest global ranking in more than 215 developmental, economic, and human indicators, as stated in international reports.

In review of the successful year, the Ruler expressed that 2023 was marked by exceptional progress in the economy, increased global influence, advancements in science, and improvements in education and healthcare, all under the guidance of his brother Mohammed bin Zayed. The Ruler expressed optimism for further achievements in all areas throughout 2024.