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Abu Dhabi orders disbursement of $1.9bn housing loans

ABU DHABI, November 28, 2020

HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Chairman of the Executive Council of Abu Dhabi today (November 28) announced the disbursement of housing loans worth AED7 billion ($1.9 billion) to 6,100 citizens in the emirate, exempting retired low-income citizens from paying back the loans.
 
This comes following the directives from President HH Sheikh Khalifa bin Zayed Al Nahyan as a special gesture on the occasion of the country's 49th National Day, reported state news agency Wam. 
 
The approval of the loans and exemptions, which is part of the 2020 housing packages of AED15.5 billion, coincides with the N-Day celebrations in light of the keenness of the UAE’s leadership to maintain social stability and ensure decent living standards for citizens, as well as reinforcing their role in the country’s development process, stated the report.
 
This year, approvals were issued for more than 5,000 housing loans, it added.



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