Abu Dhabi crown prince orders $1.8bn housing packages for Emiratis
arabianbusiness -

Sheikh Mohamed bin Zayed Al Nahyan's directive aims to double the number of housing loans to UAE citizens

Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, on Tuesday ordered AED6.6 billion ($1.8 billion) in housing packages to be granted to more than 5,000 UAE nationals within Abu Dhabi.

The disbursement – including loans, houses and land – is linked to the leadership’s keen interest in ensuring social stability, and to enhancing the quality of life of UAE nationals, a statement said.

The directive from Sheikh Mohamed, also Deputy Supreme Commander of the UAE Armed Forces and chairman of the Abu Dhabi Executive Council, aims to double the number of housing loans to UAE citizens.

The order falls under Abu Dhabi’s Development Accelerator Programme, Ghadan 21, and coincides with the 48th UAE National Day.

More than 6,000 housing loans, 250 houses and 1,800 plots of land were distributed to UAE nationals in 2019, with a total value of AED11.6 billion.

For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

read more