Sunday , October 21 2018

Mohamed orders AED4.27bn in housing loans for Emiratis

ABU DHABI / WAM

In line with the directives of President HH Sheikh Khalifa bin Zayed Al Nahyan, His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and Chairman of Abu Dhabi Executive Council, has instructed provision of housing loans worth AED4.27 billion in total, to 2,500 beneficiaries in the
emirate of Abu Dhabi.
The move is consistent with keenness of HH Sheikh Khalifa bin Zayed Al nahyan and HH Sheikh Mohamed bin Zayed Al Nahyan to ensure social stability and to provide decent living standards to the citizens.
This is the first phase of an annual 5,000 housing loan package ordered earlier by Sheikh Mohamed for the citizens in Abu Dhabi.
The 2,500 housing loans will be distributed across 1,300 construction loans at a total value of AED2.414 billion, 700 loans for completion of existing houses, valued at AED 1.242 billion, 75 loans for demolition and reconstruction, valued at AED133 million, 100 maintenance and expansion loans, worth AED89.750 million and 325 additional loans, costing over AED382 million.

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