Additional housing financing for citizens in Abu Dhabi up to 500 thousand dirhams

The Abu Dhabi Housing Authority has signed cooperation agreements with three national banks: Abu Dhabi First Bank, Abu Dhabi Islamic Bank and Local Bank of Al -Maria, to provide additional real estate funds, with benefits and murabaits supported by the Abu Dhabi government to beneficiaries of the housing loans program provided by the authority. A statement of the authority stated that these agreements fall within the framework of their endeavor to increase the percentage of citizens’ ownership of appropriate housing and provide facilitated financing solutions, as part of their vision to provide a sustainable housing system that achieves social welfare and family stability for citizens in Abu Dhabi through effective partnerships with the banking sector.

According to these agreements, citizens who obtained purchase or construction of a residence from the authority, whose monthly income exceeds 30 thousand dirhams, can obtain additional financing of up to 500 thousand dirhams from the approved partner banks, and with a period of payment of up to 25 years, according to the controls of the United Arab Emirates Central Bank, and in line with the provisions of Islamic Sharia, with the Abu Dhabi government bearing 50% of the benefits and supplies resulting from This financing.

The initiative includes citizens who obtained a loan of 1.75 million dirhams from the commission, and this includes those who have activated their loans and have not yet started paying batches to developers and contractors, which gives them greater flexibility in planning to build their homes.

“The agreements come as an extension of our efforts to enable citizens to own suitable housing, within a sustainable housing system that supports family stability and social welfare.”

He added: “We are committed to expanding our services and providing additional financing options that contribute to improving the quality of citizens’ life, and facilitating them to build or buy the appropriate housing with ease and ease. “

Those eligible citizens can take advantage of the facilities and apply for an additional funding request from any of the three banks through the “Abu Dhabi Housing” application.

. Citizens with purchase or construction of a residence from the authority, whose monthly income exceeds 30 thousand dirhams, will benefit from a period of payment of up to 25 years.