Exec. council approves Dh4.5b for housing loans

ABU DHABI — The Executive Council of Abu Dhabi has sanctioned over Dh4.5 billion to finance housing loans for citizens in the emirate.

By (Wam)

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Published: Sat 7 May 2005, 10:38 AM

Last updated: Thu 2 Apr 2015, 8:24 PM

“The move, taken upon the directives of the President, His Highness Shaikh Khalifa bin Zayed Al Nahyan, reflects the government’s keenness to provide proper housing to every national family and hence enable it to lead a decent life,” said General Shaikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.

Gen. Shaikh Mohammed, who also chairs the Executive Council, said the decision would further spur an overall development process in the emirate of Abu Dhabi.

“The Executive Council will act upon the President’s sagacious policies and directives and liaise with all institutions of the emirate to upgrade services being rendered to citizens,” he stressed.

A total of 3,761 nationals will benefit from the decision.

Of the total amount earmarked, Dh333.6 million will be used in the construction of 278 houses in Abu Dhabi, Dh529.2 million for building 441 housing units in Khalifa (A) City and Dh241.2 million for 201 houses in Khalifa (B) city.

Furthermore, over Dh1.2 billion will be set aside for the construction of 1,019 houses in Shaikh Mohammed bin Zayed Residential City, Dh451.2 million for revamping and completion of 376 housing units in Abu Dhabi town, Dh1.6 billion for building of 1,359 homes in Al Ain and over Dh1 billion for rejuvenation and completion of 87 houses in Al Ain.

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