Abu Dhabi orders disbursement of $757m housing loans
ABU DHABI, July 27, 2020
Abu Dhabi government has announced the disbursement of housing loans worth Dh2.78 billion ($757 million) to 1,976 citizens in the emirate, exempting retired low-income citizens from paying back the loans, as a special gesture on the occasion of Eid Al Adha.
HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Chairman of the Executive Council of Abu Dhabi has ordered the disbursement of housing loans worth AED2.78 billion ($757 million) to 1,976 citizens in the emirate, exempting retired low-income citizens from paying back the loans.
This comes following the directives from President HH Sheikh Khalifa bin Zayed Al Nahyan as a special gesture on the occasion of Eid Al Adha, reported state news agency Wam.
Under this arrangement, the second batch of housing loans for 1,500 citizens has been approved along with the loan payment exemption for 476 retired low-income citizens.
This gesture reflects the keenness of the UAE’s leadership to maintain social stability and ensure decent living standards for citizens, as well as reinforce their role in the country’s development process, stated the report.
The royal directive also demonstrates the keenness of Sheikh Mohamed bin Zayed to promote the Abu Dhabi government accelerator programme, Ghadan 21, and double housing loans for UAE citizens, it added.
