Saturday, June 24, 2017

Abu Dhabi approves $653m housing loans

The Abu Dhabi government has announced plans to issue new batch of housing loans worth Dh2.4 billion ($653 million) to 1,250 beneficiaries in the emirate as part of its initiative to provide all the necessities of a dignified living and appropriate housing to its citizens, said a report.

The new batch of loans will cover the needs and demands of citizens to build their homes or to re-build in different areas of Abu Dhabi, reported state news agency Wam.

The confirmed batch will include 600 loans in new areas, with 400 loans for completing buildings in existing areas, 150 for the purpose of tearing down and rebuilding, 80 for maintenance and expansion, and 20 for maintenance only, it stated.

In another development, a total of 625 beneficiaries have been selected to receive housing assistance worth Dh417 million under the Sheikh Zayed Housing Programme, said the Wam report citing a top minister.

Dr Abdullah bin Mohammed Belhaif Al Nuaimi, Minister of Infrastructure Development and chairman of the programme, said the good news was conveyed ahead of Eid Al Fitr to bring a smile on the faces of the eligible recipients.

"This underscores the leadership's commitment to bring joy to citizens on the happy occasion and the government's persistent efforts to improve the quality of life for citizens," he added.

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