The Ministry of Energy and Infrastructure, represented by the Sheikh Zayed Housing Programme, has signed a partnership agreement with Sukoon Takaful, a leading provider of insurance and takaful services, to enhance financial protection for beneficiaries of housing loans in the UAE.
The agreement aims to establish a comprehensive insurance protection framework for housing loan beneficiaries. It is designed to strengthen the sustainability of the housing support system while expanding insurance inclusion across different segments of society.
This initiative builds on the Ministry’s ongoing efforts to further develop the housing finance system, following the positive results achieved through a pilot initiative launched last year. That initial phase introduced insurance coverage for housing loan beneficiaries and laid the foundation for a more structured and inclusive protection model.
The new agreement expands this framework into a more comprehensive and sustainable system, ensuring continuity of benefits and broader access to housing support financing. It places particular emphasis on supporting Emirati citizens, including senior citizens and retirees, by improving long-term access to housing assistance.
Under the agreement, the insurance coverage age limit has been extended up to 95 years. This extension provides long-term financial protection for beneficiaries and reflects the government’s commitment to expanding housing opportunities while removing previous restrictions on financing eligibility.
The agreement forms part of the broader financing ecosystem of the Sheikh Zayed Housing Programme and highlights strong coordination between government entities, the financial sector, and insurance providers. It introduces a unified insurance framework covering cases of death or total permanent disability, helping ensure greater stability and accessibility in housing finance.
Eng. Mohammed Al Mansoori, Undersecretary for Infrastructure and Transport Affairs at the Ministry of Energy and Infrastructure, described the agreement as a significant step forward in the development of the UAE’s housing finance system. He noted that the initiative integrates advanced insurance solutions that improve sustainability and reduce risks associated with housing financing.
He further explained that the Ministry is committed to developing proactive and flexible solutions that cater to the needs of all segments of society, especially senior citizens and retirees. By offering adaptable insurance coverage aligned with different life stages, the system aims to provide greater confidence and long-term housing security for beneficiaries.
Al Mansoori also emphasized that collaboration between government entities and the banking and insurance sectors is essential to building a resilient and sustainable housing ecosystem. Such partnerships, he said, support innovative solutions that enhance family stability and improve quality of life in the UAE.
He added that the agreement reflects the Programme’s commitment to placing citizens at the center of housing policies and ensuring their needs are met throughout all stages of life. He also highlighted that extending coverage up to 95 years demonstrates the government’s strong focus on senior citizens and long-term housing stability.
The agreement is part of a series of initiatives by the Sheikh Zayed Housing Programme aimed at strengthening housing policies, improving access to housing support, increasing customer satisfaction, and contributing to national goals related to quality of life and family stability.