Mohamed bin Zayed approves AED2.4b housing loans in Abu Dhabi

9/23/2015 1:59:48 AM

(MENAFN- Emirates News Agency (WAM))

ABU DHABI 22nd Sept. 2015 (WAM)In line with the directives of President His Highness 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 approved new housing loans for 1202 beneficiaries in the Emirate of Abu Dhabi at a total value of AED2404 billion.

Sheikh Mohamed instructed the Abu Dhabi Housing Authority to immediately disburse the loans to the beneficiaries in accordance to the procedures.

The new loans cover the needs of citizen across the Emirate with 879 beneficiaries in Abu Dhabi and 323 in the Eastern and Western Regions.

The gesture reflects the keenness of the UAE President the Crown Prince of Abu Dhabi and follow up by H.H. Sheikh Hazza bin Zayed Al Nahyan National Security Adviser Vice-Chairman of the Abu Dhabi Executive Council and Chairman of the Abu Dhabi Housing Authority on the provision of decent living conditions for families to ensure socio-economic stability.

The government housing loan in Abu Dhabi of AED2 million is interest-free and refundable in equal monthly instalments. The citizens are exempted from paying 25 per cent of the total value of the loan granted to them upon completion of the construction of the building in addition to granting a one-time exemption of certain percentages and other incentives on early repayment of the loan.

WAM/bashir

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.