Dubai: UAE President Mohamed bin Zayed Al-Nahyan has ordered the disbursement of housing loans totaling $817 million to 1,900 residents of Abu Dhabi.
The UAE celebrated its 51st National Day on 2 December, and the third housing package for 2022 coincided with the celebrations, bringing the year's total housing support to nearly $2 billion and helping more than 4,000 citizens.
According to a statement by the Emirates News Agency, "It reflects the leadership's commitment to ensuring social stability, raising living standards and empowering citizens to raise strong and stable families, which will benefit the UAE's future. "
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The package includes housing loans in Abu Dhabi for retired borrowers and families of deceased borrowers as well as loan repayment waivers.
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Ahead of National Day, the UAE President freed 1,214 Emiratis from debts of more than $146 million.
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According to a previous WAM report, the Non-Performing Debt Relief Fund announced that it will settle debts owed by the Emirati to 17 banks.