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Sat 1 Dec 2018 04:34 PM

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Abu Dhabi to give $5bn in housing grants and loans to citizens

Instructions by Crown Prince Mohamed Bin Zayed come on the eve of the UAE's 47th National Day

Abu Dhabi to give $5bn in housing grants and loans to citizens

Abu Dhabi has ordered the provision of more than AED 18.3 billion ($5 billion) in housing loans and land grants, according to state news agency WAM.

The provisions will benefit 12,475 Emirati citizens in the Emirate of Abu Dhabi, according to the report.

The instructions include the provision of 8,662 in housing loans valued at AED 16.2 billion, 953 government houses valued at AED79 million, and 2,213 residential plots valued at AED1.41 billion.

The directives come on the eve of the UAE’s 47th National Day in the same year marking the centenary of the birth of the late Sheikh Zayed bin Sultan al Nahyan, founding father of the UAE.

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