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15 April 2024

Mohamed bin Zayed orders distribution of housing loans, residential lands worth Dh7.5bn in Abu Dhabi

By Wam

In line with 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, Deputy Supreme Commander of the UAE Armed Forces and Chairman of Abu Dhabi Executive Council, has instructed provision of housing loans worth AED 4.27 billion in total, to 2,500 beneficiaries in the emirate of Abu Dhabi.

The move is consistent with keenness of His Highness Sheikh Khalifa bin Zayed Al Nahyan and His Highness Sheikh Mohamed bin Zayed Al Nahyan to ensure social stability and to provide decent living standards to the citizens.

This is the first phase of an annual 5,000 housing loan package ordered earlier by Sheikh Mohamed for the citizens in the emirate of Abu Dhabi.

The 2,500 housing loans will be distributed across 1,300 construction loans at a total value of AED 2.414 billion, 700 loans for completion of existing houses, valued at AED 1.242 billion, as well as 75 loans for demolition and reconstruction, valued at AED133 million, 100 maintenance and expansion loans, worth AED89.750 million and 325 additional loans, costing over AED382 million.

Sheikh Mohamed also approved allocation of 696 residential plots and 798 government houses at a total value of AED1.6 billion, in addition to 163 loans, worth AED195.6 million, for citizens to buy ready houses in different areas of the Abu Dhabi emirate.

He also sanctioned projects to build government houses in different areas, including 306 in Al Sad, 204 in Suwaihan, and to execute an expansion programme with 588 houses in Al Dhafra ranches, at a total value of AED1.5 billion.