Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and Chairman of Abu Dhabi Executive Council, has ordered the distribution of housing loans and residential lands worth more than Dh18.3 billion ($4.98 billion) to 12,475 beneficiaries in the emirate, said a report.

This comes in line with the directives of President HH Sheikh Khalifa bin Zayed Al Nahyan, reported state news agency Wam.

As per the order, Sheikh Mohamed has approved 8,662 housing loans valued at Dh16.2 billion besides the allocation of 953 government houses worth Dh79 million, and 2,213 residential plots worth Dh1.41 billion, stated the report.

The move is consistent with keenness of Sheikh Khalifa and Sheikh Mohamed to ensure social stability and to provide decent living standards to Emiratis, it added.