In implementation of the directives of the President of the State .. Khalid bin Mohammed bin Zayed adopts 14 residential projects and additional facilities in the housing loan system for citizens in the Emirate of Abu Dhabi
Abu Dhabi, May 9/ WAM/ in implementation of the directives of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State “may God protect him”, in his capacity as ruler of the Emirate of Abu Dhabi, His Highness Sheikh Khalid bin Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Chairman of the Executive Council of the Emirate of Abu Dhabi, approved 14 integrated housing projects in the Emirate of Abu Dhabi, to provide 35 thousand new residential benefits that include 26 thousand housing units ready Citizens have a total value of 82.7 billion dirhams during the next five years, in addition to developing about 9,000 residential plots.
Based on the keenness of the wise leadership to enhance the well -being of citizenship families and ensure their family and social stability, His Highness Sheikh Khalid bin Mohammed bin Zayed Al Nahyan adopted a set of additional facilities in the system of payment of housing loans, as these facilities include the adoption of an amount of 250 thousand dirhams as community support that is deducted from the value of the housing loan and applied retroactively and sparkling to all beneficiaries of housing loans that reach Its value of 1.750 million dirhams, granted according to the policy of residential benefits for 2023.
His Highness also adopted a decision to reduce the value of the monthly installments of housing loans by extending the period of payment of housing loans for a period of up to 30 years.
The new facilities include flexibility in determining the value of the monthly installment that changes according to the monthly income of the beneficiary, to take into account the financial conditions of citizens whose monthly income decreases after obtaining the housing loan.
A loan purchase loan service will be activated for those with limited income for the age group between 25 to 45 years, in order to take advantage of wider options within the available housing projects basket, while the age groups are over 45 years old with low -income people with a ready -made housing service from capital projects.
The new facilities include the exemption of citizens from the fees for replacing residential land with mutual consent, with the aim of facilitating the replacement process between citizens wishing to benefit from this service to achieve family rapprochement and interdependence.
His Excellency Muhammad Ali Al -Shurafa, Chairman of the Abu Dhabi Housing Authority, offered, on this occasion, sincere thanks and gratitude to His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State “may God protect him”, and His Highness Sheikh Khalid bin Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Chairman of the Executive Council of the Emirate of Abu Dhabi, for their high directives, and their constant concern to follow up on the affairs of citizens, enhance their family stability and their family stability through their family. The quality of life and the provision of appropriate housing.
For his part, His Excellency Hamad Hareb Al -Muhairi, Director General of the Abu Dhabi Housing Authority, has raised the verses of thanks and gratitude to the shrine of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State “may God protect him”, and to His Highness Sheikh Khalid bin Mohammed bin Zayed Al Nahyan, for these directives that will be positively reflected on the lives of citizens and enhance their family stability, as it comes in line with the goals of the General Society Initiative, which enhances the values of cohesion and solidarity, It emphasizes the importance of the appropriate housing role in building a stable society.
His Excellency said that the authority will implement the decision of community support of 250 thousand dirhams automatically to all the beneficiaries who obtained housing loans worth 1.750 million dirhams, and the authority will apply the new deduction policy to all housing loans issued after 2015, so that the monthly installment does not exceed 10% of the total income and a maximum of 10 thousand dirhams, in order to achieve the guidance of good leadership in reducing the burdens on citizens, where The new deduction policy will begin in September 2025.
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