Abu Dhabi Crown Prince Orders $1.8bn Housing Packages For Emiratis

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

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

Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi.

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.
RECENT NEWS

Emicool Secures First-ever Green Financing To Boost Sustainable Growth

The liquidity generated will be strategically deployed to accelerate the company’s district cooling projects across t... Read more

UAEs Ruya Becomes First Global Islamic Bank To Offer Shariah-compliant Crypto Trading

Digital Islamic bank ruya teams up with Fuze to offer secure, ethical crypto investments aligned with Islamic financial... Read more

Startups In Abu Dhabis Hub71 Secured $2.17bn In Funding Last Year

Hub71 startups in Abu Dhabi saw massive increase in funding in 2024 as innovation economy thrives Read more

UAE Fintech Pay10 First To Launch On Central Banks Open Finance Framework

The company has acknowledged the Central Bank of the UAE's crucial role in facilitating a responsible and secure rollou... Read more

PayPal Expands In MEA Region With Its Newly Launched Hub In Dubai

Will serve 80 countries in Middle East and Africa from its Dubai Internet City hub; Has signed several deals with regio... Read more

New Board Certifies DMCC Tradeflow As Fully Shariah Compliant

Shariah Supervisory Board appointed to oversee Tradeflow’s Islamic finance offering; Certified fully-compliant with A... Read more