Abu Dhabi Releases Second Installment of Housing Loans Amounting $435 Million

Abu Dhabi has ordered the release of the second instalment of housing loans, numbering 1,000 and valued at Dh1.6 billion ($435.61 million) for this year.

Upon 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 and Deputy Supreme Commander of the UAE Armed Forces, and chairman of the Abu Dhabi Executive Council, has ordered to disburse the second instalment of housing loans to Emirati citizens, said a Wam news agency report.

The disbursement of the loans highlights the keenness of the country’s leadership to ensure social stability and improve the living standards of UAE citizens, as well as to promote their role in achieving social development, it said.

The scheme is part of the Abu Dhabi Government Accelerators Programme ‘Ghadan 21’ to double the number of housing loans available to Emirati citizens. Ahead of Eid Al Fitr, a total of 2,000 loans, valued at Dh3.4 billion, were awarded as part of the programme’s first instalment this year.