Property

US $2.1bn in housing benefits unveiled by Abu Dhabi authorities

The total value of housing benefit packages disbursed in Abu Dhabi during 2023 has reached $3.66bn

Housing benefits worth US $2.1bn have been disbursed by Abu Dhabi authorities ahead of the UAE’s 52nd National Day.

The disbursement of the housing benefits was approved by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, on the directives of President HH Sheikh Mohamed bin Zayed Al Nahyan, in his capacity as Ruler of Abu Dhabi.

According to a report by WAM, the package will cover over 5,685 beneficiaries across the emirate, includes housing loans of all types, with a total value of $1.63bn, from which 3,714 UAE nationals have benefited.

The package also covers exempting low-income retirees and families of those who passed away in 2023 from loan repayments. This segment of the package totalled more than $156mn, from which 549 Emiratis benefited, the report noted.

The package also included the granting of residential lands and ready-made houses to 1,422 UAE nationals at a total value of more than $259mn, incorporating the cost of works to provide infrastructure for residential lands. This brings the total value of housing benefit packages disbursed in Abu Dhabi during 2023 to $3.66bn – 9,292 UAE nationals are said to have benefitted from the packages.

Lauding the initiative, Mohamed Ali Al Shorafa, Chairman of the Department of Municipalities and Transport and Chairman of the Board of Directors of Abu Dhabi Housing Authority, said the wise leadership’s interest and continuous support for the housing sector in the emirate has led to achieving the aspirations of citizens, meeting their needs in a way that secures a decent life alongside family and social stability.

“Abu Dhabi Housing Authority is working to translate the directives of the leadership through its programmes and services, through which it seeks to achieve the vision of the wise leadership and provide for citizens in a way that contributes to the achieving of happiness, comfort, and family stability for UAE families,” he concluded.

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