Extra housing loan benefits for Emiratis

An agreement has been signed with the Emirates Development Bank to provide Emiratis with a 50 per cent increase on their existing housing loans.

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The chairman of the Sheikh Zayed Housing Programme has announced that an agreement has been signed with Emirates Development Bank to provide Emiratis with an extra 50 per cent value on their existing housing loans.

Dr Abdullah Bin Mohamed Belhaif, Minister of Public Works, said that nationals who obtained housing aid can now subscribe to a loan with an additional 50 per cent of the initial loan value.

For example, if the housing loan is worth Dh800,000 they can now borrow and additional Dh400,000 according with the bank’s terms.

The step aims to enhance family stability for Emirati nationals.

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