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UAE president Mohamed bin Zayed orders $817 million housing support for citizens

UAE President Sheikh Mohamed bin Zayed ordered housing support package that amounted to almost $2 billion in 2022. (File/AFP)
UAE President Sheikh Mohamed bin Zayed ordered housing support package that amounted to almost $2 billion in 2022. (File/AFP)
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02 Dec 2022 03:12:02 GMT9
02 Dec 2022 03:12:02 GMT9

Arab News

  • The third housing package of 2022 coincided with the UAE’s 51st National Day celebrations
  • UAE president earlier waived off over $146 million of debts for 1,214 Emirati citizens
DUBAI: UAE President Mohamed bin Zayed Al-Nahyan has ordered disbursement of housing loans worth $817 million for 1,900 Abu Dhabi citizens.

The third housing package of 2022 coincided with the UAE’s 51st National Day celebrations, marked on Dec.2, bringing the total value of housing support this year to almost $2 billion that benefitted over 4,000 citizens.

“It reflects the leadership’s commitment to ensuring social stability, enhancing living standards and enabling citizens to raise strong and stable families that will benefit the future of the UAE,” said a statement on Emirates News Agency (WAM).

The package includes housing loans, and the exemption of the retired and families of deceased borrowers in Abu Dhabi from loan repayments.

Ahead of the National Day, the UAE president earlier waived off over $146 million of debts for 1,214 Emirati citizens.

The Non-performing Debt Relief Fund said it would settle money owed by Emiratis in 17 banks, WAM earlier reported.

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