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Mon 30 Mar 2015 10:13 AM

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Dubai ruler waives home loans for 97 Emiratis

Loan worth $7.7m were scrapped for a variety of reasons, including low income, retirement, death and disability

Dubai ruler waives home loans for 97 Emiratis
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. (Getty Images)

UAE Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, has waived the housing loans of 97 Emiratis worth $7.7 million (AED28.5 million), owing to a variety of reasons, including low income, retirement, death and disability.

Sami Abdulla Gargash, CEO of the Mohammed bin Rashid Housing Establishment, told state news agency WAM that the establishment will bear responsibility for paying out their housing loans, in accordance with Sheikh Mohammed’s directives.

Gargash said Sheikh Mohammed’s order reflects his firm approach in placing citizens’ needs on top of the government’s priorities and utilising all resources to provide quality life and prosperity for people.

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Joe Sassine 5 years ago

This is the real leadership !!!!! Bravo !

"Gargash said Sheikh Mohammed’s order reflects his firm approach in placing citizens’ needs on top of the government’s priorities and utilising all resources to provide quality life and prosperity for people."