More than 600 homes belonging to Emiratis across the UAE will be renovated or rebuilt following a decision by the Presidential Initiatives Committee.
The move comes as part of an initiative from the President, Sheikh Khalifa, to improve the living conditions of Emiratis and will be followed up by Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces.
After providing proof of their need for renovation or rebuild, the owners of 602 houses in Dubai, Sharjah, Ajman, Fujairah and Umm Al Quwain will benefit, said Wam, the state news agency.
Ahmed Jumaa Al Zaabi, Deputy Minister of Presidential Affairs, praised the Deputy Prime Minister Sheikh Mansour bin Zayed, for his speedy implementation and completion of the replacement of old housing as per the orders of Sheikh Khalifa.
He added that one of the goals of the project is to allow Emiratis to give the committee suggestions they have that might improve its work.
newsdesk@thenational.ae
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
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In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013