14 new housing projects and loans approved for Abu Dhabi citizens
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Abu Dhabi has approved 14 integrated housing projects, worth AED 82.7 billion, in the capital for Emirati citizens.
The projects will deliver 35,000 housing benefits over the next five years, including 26,000 residential units, and the development of approximately 9,000 residential land plots.
Approved by His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, it's in line with the leadership's commitment to further enhance family stability and ensure social welfare.
Sheikh Khaled also approved a series of additional benefits to the housing loans ecosystem. These include a community support subsidy of AED250,000 to be automatically and retroactively deducted from the total loan amount for all housing loans totalling AED1.75 million, as per the 2023 housing benefits policy.
Loan repayment periods have also been extended to up to 30 years, offering more flexibility to citizens. In addition, monthly repayment values will be adjusted based on the beneficiary's monthly income.
A deferred-payment home purchase loan will also be introduced for low-income citizens aged 25 to 45, enabling them to choose from a wider range of available housing options.
Citizens above the age of 45 will be eligible for ready-built home grants from the capital projects.
Citizens will also be exempt from fees related to mutually agreed land plot swaps, to facilitate the exchange process and support stronger community and family bonds.
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