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Wed 20 May 2020 09:13 AM

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Abu Dhabi announces $1.4bn housing package for Emiratis

The housing package includes housing loans, houses and residential plots

Abu Dhabi announces $1.4bn housing package for Emiratis

The initiative – which was approved by Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed Al Nahyan – will benefit more than 5,500 UAE nationals in the emirate.

Abu Dhabi has granted AED 5.5 billion in housing loans, houses and residential plots to Emirati residents, it was announced on Tuesday.

According to the UAE’s state-run WAM news agency, the initiative – which was approved by Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed Al Nahyan – will benefit more than 5,500 UAE nationals in the emirate.

The approval of the first instalment of housing loans, houses and residential plots coincides with Eid al-Fitr and is aimed at ensuring social stability, enhancing living standards, and strengthening the role of UAE nationals in society, the WAM report noted.

The directive is also part Abu Dhabi’s development accelerator programme, Ghadan 21, which was originally announced in September 2018.

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