Thursday, May 30, 2024

UAE’s New Housing Policy Allows Citizens to Resell Houses, Transfer Mortgage

The United Arab Emirates (UAE) has introduced a series of significant policy changes aimed at improving housing, healthcare, and environmental sustainability, announced during a recent 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 Changes for Emiratis:

The UAE government approved a housing policy aimed at benefiting Emirati citizens. Under this policy:

  • Emiratis will be allowed to replace or resell their houses.
  • The transfer of mortgages will be permitted, providing greater flexibility in housing arrangements.
  • Flexible loan schemes are approved, making it easier for Emiratis to access housing assistance.

This move reflects the government’s commitment to ensuring suitable housing for its citizens. To benefit from these new policies, beneficiaries of housing assistance can apply for a mortgage transfer by submitting applications to the Ministry of Energy and Infrastructure.

2. Establishment of Emirates Drug Establishment:

The Cabinet also approved the establishment of the Emirates Drug Establishment, a federal body aimed at bolstering the UAE’s position as a global hub for 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 track and monitor medical products from production to consumption.
  • Regulation of various medical products, including pharmaceuticals, healthcare items, medical devices, and more.
  • Responsibility for setting a national pricing system for medical products.

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

3. Integrated Management of Recyclable Materials:

The UAE has introduced a new policy for the integrated management of recyclable materials, including:

  • Used tires
  • Electronic waste
  • Plastic waste
  • Used cooking oils
  • Aluminium dross

This policy underscores the UAE’s commitment to environmental sustainability and responsible waste management.

4. 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 improve the quality of education in the UAE.

5. Gulf Academy for Strategic and Security Studies Headquarters:

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

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

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