Construction

Distribution of $925.5mn in housing loans approved by Abu Dhabi leadership

Approval of first installment for 2019 of housing loans, government houses and residential plots comes as part of commitment to enhance living standards and provide citizens

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 the Emirate of Abu Dhabi, has ordered the distribution of the first instalment for 2019 of housing loans, government houses and residential plots, including 2,000 loans with a total value of $925.5 million, as per the directives of President HH Sheikh Khalifa bin Zayed Al Nahyan.

The approval of this installment for Emirati citizens in Abu Dhabi stems from the leadership’s commitment to ensure social stability, enhance living standards and provide citizens with all their needs to enable them to be active contributors to the development of their community, a report from WAM said.

The installment is also in line with directives from HH Sheikh Mohamed bin Zayed, as part of the Abu Dhabi Government Accelerators Programme, Ghadan 21, which looks to double the number of loans granted annually.

In 2018, a total of 12,100 residential loans were granted as per a housing loan distribution plan which also saw the approval of loan requests from previous years that have met all requirements.

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