Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi has approved more than $900 million (AED3.309 billion) in housing benefits to boost living standards in the UAE capital.
The disbursements will coincide with the approaching Eid Al Adha holiday and be distributed among 2,015 citizens.
Housing loans and exemptions
The housing benefits package will provide assistance to 1,766 citizens through housing loans worth over $800 million (AED3.046 billion). A significant portion of these loans, 782 in total, will be allocated for the purchase of residential units in the Balghaiylam residential project.
Furthermore, senior citizens, retirees with limited incomes, and the families of deceased citizens will receive exemptions from housing loan payments, amounting to over $70 million (AED262.8 million). This exemption will directly benefit 249 citizens in Abu Dhabi.
“We extend our deepest gratitude to His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and to His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council for their generous directives to disburse the second housing and benefits package in 2024,” said Mohamed Ali Al Shorafa, Chairman of the Board of Directors of Abu Dhabi Housing Authority.
“The distribution of this package highlights our wise leadership’s continued dedication to improve the welfare of our citizens and their families, and nurture familial and social cohesion within the emirate, while advancing its comprehensive development.”
UAE govt’s commitment to citizen wellbeing
The distribution of this year’s second housing benefits package reflects the leadership’s dedication to ensuring the well-being of Emirati families, according to Emirates News Agency WAM.
With this package, the total value of housing benefits has reached more than $41 billion (AED152 billion) since the establishment of Abu Dhabi Housing Authority in 2012.
“The directives to distribute the second housing benefits package exemplify the priority of our leaders, showcasing their steadfast dedication to the wellbeing of Emirati citizens which is paramount focus on the national agenda,” Hamad Hareb Al Muhairi, Director General of Abu Dhabi Housing Authority, said.
“Abu Dhabi Housing Authority remains dedicated to continually improving its programmes and services to provide housing for all citizens in Abu Dhabi, while also advancing the housing sector in alignment with the directives and vision of the leadership.”
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