Abu Dhabi: The Abu Dhabi Executive Council Sunday approved Dh2.92 billion in housing loans for 1,496 Emirati beneficiaries from the Private Housing Loans Authority in Abu Dhabi. A total of Dh1.6 billion in housing loans will be distributed to 805 beneficiaries from Abu Dhabi, Dh788 million to 394 beneficiaries in Al Ain, and Dh594 million to 297 families in the Western Region.
The move comes under the directives and keenness of President His Highness Shaikh Khalifa Bin Zayed Al Nahyan and General Shaikh Mohammad Bin Zayed Al Nahyan, Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Abu Dhabi Executive Council, to provide a dignified and stable life for Emiratis, contributing to social stability for Emiratis and their families, and to alleviate the burden of expenditure and meet the need for suitable modern housing that complements the urban development witnessed in the UAE.
The loans are also part of the Dh7 billion housing projects that were announced during an Executive Council meeting in June. The council instructed the Abu Dhabi Financial Department to transfer the money to the relevant banks in order to notify the beneficiaries about the disbursement of new housing loans that can be used for building new homes or renovations.
The approved loans are also at the forefront of comprehensive development strategic programmes that are based on the Abu Dhabi Vision 2030, which are supported by Shaikh Khalifa and Shaikh Mohammad.
