Abu Dhabi Crown Prince approves Dh2.18 billion housing plan for citizens

Sheikh Khaled bin Mohamed announces year’s first housing benefits package, which coincides with Eid Al Fitr

Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, has approved the initiative, valued at Dh2.18 billion. Photo: Presidential Court
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Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, has approved the first housing benefits package of the year.

Valued at Dh2.18 billion ($590 million), the benefits will be distributed among 1,502 of the emirate’s citizens.

The package includes housing loans, ready-built houses and residential land grants totalling Dh2.082 billion for 1,407 citizens.

Under the plan, senior citizens, retired people with limited incomes and the families of deceased citizens have been exempted from housing loan payments, amounting to more than Dh98 million for 95 Emiratis.

The housing support is being delivered under the directives of President Sheikh Mohamed, in his capacity as Ruler of Abu Dhabi.

“This further reiterates our unwavering commitment to enhancing the housing sector for citizens in the emirate, in line with the vision of our leadership and their aspirations to enhance the quality of life for the people of our nation,” said Mohamed Al Shorafa, chairman of the board of directors of Abu Dhabi Housing Authority.

The move brings the total value of housing benefits disbursed in the capital since the establishment of the Abu Dhabi Housing Authority in 2012 to Dh149 billion.

UAE leaders regularly rubber-stamp housing benefit projects to boost the quality of life of Emiratis across the country.

Last month, a Dh3.5 billion plan to offer 1,146 villas to citizens was launched in Abu Dhabi, when Sheikh Khaled approved the Yas Canal project for Al Raha Beach. It is expected to be completed in the last quarter of 2027.

The latest financial package will coincide with the country's celebrations for Eid Al Fitr, the religious festival which marks the end of Ramadan.

Eid Al Fitr will begin in the Emirates on either Tuesday or Wednesday, with the official date to be confirmed by the sighting of the crescent moon.

Updated: April 12, 2024, 5:25 AM