Abu Dhabi, UAEFriday 7 August 2020

Housing loan payments waived for low-income Emiratis

Families of Emiratis who have died are also exempt from paying loans back to Sheikh Zayed Housing Programme

Yasar Jarrar has offered a unique insight into the leadership style of Sheikh Mohammed bin Rashid in his new book. Courtesy: Wam  
Yasar Jarrar has offered a unique insight into the leadership style of Sheikh Mohammed bin Rashid in his new book. Courtesy: Wam  

Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai, waived the obligation of low-income Emirati families to pay back their housing loans to the Sheikh Zayed Housing Programme.

On Saturday, Sheikh Mohammed, who is also Vice President of the UAE, ordered families who earn less than Dh15,000 per month to be exempt for repaying the remainder of their loans.

The exemption extended to families of deceased Emiratis, reported state news agency Wam. The order aims to alleviate the financial burdens of the families. It is unclear how many families will benefit from the exemption.

Last month, Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, ordered billions of dirhams in housing packages to be distributed among more than 5,000 Emiratis.

He called for loans, houses and land — at a total value of Dh6.6bn — to be granted to citizens, under the directives of President Sheikh Khalifa.

The UAE Government allocates land, free accommodation or a loan to eligible Emiratis who apply though the Housing Allocation Committee.

Sheikh Zayed Housing Programme, established in 1999, provides low-income Emiratis with interest-free loans that are repayable over a 25-year period. Priority is given to widows, senior Emiratis and people with disabilities.

The scheme was introduced to ensure all Emiratis have access to safe and affordable housing and basic services.

Updated: December 7, 2019 07:28 PM

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