Its a
PR stunt.
And it will not cost company a dime as "the offer" is a regular mortgage you will paying for yourself. If you can afford it. The Raha Beach properties are not cheap and if you eg take up a mortgage for AED 2mil you are looking at monthly payments of roughly AED18000.
Last I checked the housing allowance from company AED10000/ month.
If you necessarily want to buy property in UAE, you can find much better deals than that. Try Manazel or Hydra Properties in Abu Dhabi or the secondary market/ resell up in Dubai.
But these are desperate times as far as pilot recruitment goes and guessing EY has no more room in the budget for pilot retirement schemes, loss of license, company transport, overtime pay etc so they working the smoke and mirror show.