Abu Dhabi clears housing projects worth Dhs82.7b

Sheikh Khaled approves 14 new housing projects, additional housing loans facilities for Abu Dhabi citizens; projects will deliver 35,000 new housing benefits over the next five years.

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Under the directives of His Highness Sheikh Mohamed Bin Zayed Al Nahyan, President of the UAE and Ruler of Abu Dhabi, His Highness Sheikh Khaled Bin Mohamed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, has approved 14 new integrated housing projects across the emirate.

The projects will deliver 35,000 new housing benefits over the next five years, including 26,000 residential units for Abu Dhabi citizens, with a total budget of Dhs82.7 billion, in addition to the development of approximately 9,000 residential land plots.

In line with the leadership's commitment to further enhance family stability and ensure social welfare, Sheikh Khaled Bin Mohamed Bin Zayed Al Nahyan has approved a series of additional benefits to the housing loans ecosystem. These include a community support subsidy of Dhs250,000 to be automatically and retroactively deducted from the total loan amount for all housing loans totalling Dhs1.75 million, as per the 2023 housing benefits policy.

Sheikh Khaled Bin Mohamed Bin Zayed also approved the extension of loan repayment periods to up to 30 years, helping to reduce monthly instalment amounts.