Abu Dhabi Crown Prince exempts 211 citizens' $57m housing loans
Move initiated under the directives of President HH Sheikh Khalifa bin Zayed Al Nahyan to improve social stability
HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has called for the exemption of repayments worth $56.6m (AED208m) in housing loans by 211 citizens in Abu Dhabi, with the move initiated under the directives of President HH Sheikh Khalifa bin Zayed Al Nahyan.
UAE state news agency, Wam, reported that the exemption would help lessen “social burdens” of citizens from low-income families.
Director general of the Crown Prince Court of Abu Dhabi and chairman of Abu Dhabi Housing Authority, Jaber Mohammed Ghanem Al Suwaidi, said the move would help provide the best standard of living for citizens, as well as reduce financial burdens for the families of deceased citizens and retirees.
Al Suwaidi said the first tranche of the housing loan exemptions would cover retirees with low incomes, adding work was under way to issue the remaining payments due to be made.