Thousands of teachers to receive housing subsidies

by Amy Glass Sunday, 08 June 2008

Thousands of Abu Dhabi education workers will receive an extra 6,000 dirhams ($1,634) per month from the government in a bid to help fight skyrocketing rental prices.

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Rents in the UAE's capital soared 17 percent in the first quarter of 2008, with rent and rent-related expenditures comprising 45 percent of the total expenditure of a typical consumer in the emirate.
The Abu Dhabi Executive Council approved the housing allowance increase for all nationals and expatriate staff working in education in Abu Dhabi, Al Ain and the Western region, state news agency Wam reported on Sunday.

The increase of 6,000 dirhams per month was approved to meet the increasing rents in these cities and begins in June, Wam said.

Mughir Khamis Al-Khaili, director general of Abu Dhabi Executive Council, said 13,000 teachers and administrators would benefit from allowance hike.

“The increase in housing allowance for the staff in this vital sector will decrease the burdens on the teachers and administrators... from the increase in prices and rents, as well as the high rates that exceed the housing allowance,” he said.

HSBC said in April real estate prices in Abu Dhabi were likely to shoot up by as much as 25 percent this year, driven by the rising cost of raw materials due to further weakening in the value of the US dollar and by the continued shortage of housing in the market.



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