Under directives of UAE President, Mohamed bin Zayed exempts 429 citizens from housing loans repayments
Under the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has ordered for the exemption of 429 retired citizens from the repayment of housing loans in Abu Dhabi, with a total value of AED444 million.
The gesture aims to achieve family stability and ensure the best standard of living for citizens.
These exemptions also aim to relieve citizens’ social burdens, especially retirees with low income, to get rid of any related social burdens.
The waived sum totaled to AED652 million to exempt 640 UAE nationals from paying any pending housing loans. In September 2019, a total of AED208 million was settled to exempt 211 citizens from paying any pending housing loans.
Exempting UAE retirees and limited-income earners is based on legislations related to pensioners and availability of related budget.
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