Abu Dhabi grants 1.1b in housing loans, repayment waivers

19 July, 2021 12:00 AM printer

More than 800 Emiratis have been granted housing loans or had their debts cleared by the Abu Dhabi government.

On Sunday, Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, said housing loans would be granted to citizens in Abu Dhabi, report agencies.

He also issued an order that retirees and the families of deceased mortgagors were to be exempted from loan repayments.

The total value of the loans and exemptions is Dh1.1 billion, with 803 citizens to benefit, according to the statement published by the Abu Dhabi Media Office.

Under the directives of Khalifa bin Zayed, Mohamed bin Zayed orders housing loans to be disbursed to citizens in Abu Dhabi and for retirees and families of deceased mortgagors to be exempt from loan repayments.

Sheikh Mohamed gave the order following directives from President Sheikh Khalifa.

It is the latest round of housing loan approvals made in the emirate this year and coincides with Eid Al Adha.