President Mohamed orders distribution of Dh1.5b of housing benefits for Abu Dhabi citizens

President of the UAE, Sheikh Mohamed bin Zayed bin Sultan Al Nahyan has ordered the dissemination of Dh1.5 billion ($410 million) worth of housing benefits to citizens of Abu Dhabi.

President of the UAE, Sheikh Mohamed bin Zayed bin Sultan Al Nahyan has ordered the dissemination of Dh1.5 billion ($410 million) worth of housing benefits to citizens of Abu Dhabi.

It is the second such development announced this year and coincided with the Eid Al Adha occasion.

Advertisement

The housing benefits will include grants for home loans as well as exemptions from loan repayments.

Over 1,000 Emirates citizens will profit from this package, including families and retirees in which the mortgage payer has died.

Earlier, in April, in the first housing package of this year, 1,347 citizens in Abu Dhabi got housing loans worth Dh2.36bn.

Sheikh Mohamed directed the payment of the loans as per the directives from then-President Sheikh Khalifa.

The United Arab Emirates’ government authorises land, free accommodation or a loan to eligible Emiratis who apply via the Housing Allocation Committee.

Established in 1999, the Sheikh Zayed Housing Programme offers low-income Emiratis with zero percent interest loans that are repaid over a period of 25 years. Widows, senior people and people with disabilities are given a priority.

Advertisement

The scheme was launched to assure all Emiratis have access to secure and affordable housing and essential services.

The UAE capital strives to double the number of housing loans provided to Emiratis as part of the Abu Dhabi Government Accelerator Programme, Ghadan 21.

Citizens of the UAE who have worked for at least 15 years and resided in the UAE for over a decade or longer will be able to apply for loans of Dh500,000 to Dh2.25m from the government to purchase a home or plot of land on which to construct a house.

This loan is reimbursed for the rest of their lives but can sometimes be waived by the directives of Sheikh Mohamed. Particularly, retired or people earning less are exempted from such directives.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Read More

IndiGo Aircraft from UAE to Hyderabad diverted to Pakistan’s Karachi due to technical issues

An IndiGo Airlines flight from Sharjah, UAE, to Hyderabad, India, was diverted to Karachi in Pakistan on Sunday, July 17, because of technical issues.

Ports Police station applauds for maintaining maritime security in Dubai

His Excellency Lieutenant General Abdullah Khalifa Al Marri, the Commander-in-chief of Dubai Police, has recently praised the Dubai Ports Police Station for its vital role in maintaining the maritime security of Dubai

Egypt records 1,523 new COVID cases

Egypt has recorded a total of 1,523 additional cases of novel coronavirus on Monday, February 28, 2022, according to the data shared by the Ministry of Health.

Recent

UAE offers free COVID19 PCR tests for students back after Summer holidays

Medical facilities in UAE are offering COVID19 PCR tests free or at lower prices as schools are all set to re-open on August 29...

Dubai: First flight to depart from DXB for pilgrims of Haj 2022 on June 30

The Haj Committee at Dubai Airports has revealed that it has completed preparations to assure a seamless and smooth airport experience for travellers who will be travelling for the Islamic pilgrimage of the Haj to Saudi Arabia in the forthcoming days and weeks.

UAE: 400 participants took part in ‘Burjeel Run’ organised by ADSC

More than 400 residents took part in a special run on Saturday, 25 June, organised by the Abu Dhabi Sports Council (ADSC) in Mohammed Bin Zayed City.