Dh3.4 billion in housing loans distributed to Emiratis

Under the directives of the President, Sheikh Khalifa, Sheikh Mohamed bin Zayed also orders distribution of government houses and residential plots

At the end of last year, it was announced that Abu Dhabi will grant Dh18.4 billion worth of new loans, homes and land in the emirate to thousands of its citizens. Mona Al Marzooqi / The National
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Under the directives of President Sheikh Khalifa, Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi, has ordered the first instalment of housing loans, government houses and residential plots for this year to be distributed.

This included 2,000 loans with a total value of Dh3.4 billion.

"This distribution is in line with the Abu Dhabi Government Accelerators Programme 'Ghadan 21', which doubled the number of loans granted annually", the Abu Dhabi Government Media Office tweeted.

In December, Sheikh Mohamed, also Deputy Supreme Commander of the Armed Forces, said that Dh18.4bn worth of loans, homes and land in the emirate would be granted to 12,100 citizens.

A total of 8,662 housing loans valued at Dh16.2bn, 953 government houses valued at Dh79 million, and the provision of 2,213 residential plots valued at Dh1.41bn were approved last year.

In June last year, Abu Dhabi announced a Dh50bn stimulus package aimed at boosting economic growth, creating jobs and attracting investments over the next three years.

The drive to accelerate growth, called Ghadan 21, or Tomorrow 2021, includes new housing projects for Emiratis.