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.

Tariq Saeed

Read More

Dutch school paints future of national teams in UAE

Dubai: The UAE Football Association has asked the Dutch School to manage the technical work of the teams during the coming period, as part...

Iraq: PM talks to German Chancellor over phone

Prime Minister of Iraq Mohammed Shiaa Al-Sudani talked to the German Chancellor over phone to discuess many issues including war in Gaza.

Businessman’s family to be compensated with Dh1.2 million as he was murdered in Dubai

A family of a businessman is to be compensated with Dh1.2 million as the man was abducted and killed five years ago in Dubai.

Recent

Dubai’s One Za’abeel Clinches Guinness World Record for ‘Longest Cantilevered Building’ with ‘The Link’ Concourse

Developed under the vision of the Investment Corporation of Dubai, The Link's completion in two phases over a mere 16 days stands as a testament to Dubai's unwavering commitment to innovation and excellence

Vehicles with blank number plates spotted around Dubai

Cars with empty number plates are being spotted all across Dubai. A video shows vehicles with Dubai number plates without any numbers moving around the Emirates, its highways and all-around landmarks.

Arctic Triumph: UAE Ultramarathoner Conquers Coldest Race, Makes Arab History

Expert athlete Ahmed Husain Al Katheeri finished third in the Yukon edition, one of the most difficult races in the Arctic conditions, held in the final week of February, despite suffering from hallucinations, sleep deprivation, and temperatures as low as -43 degrees
admin