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 of Abu Dhabi.
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 AED82.7 billion, in addition to the development of approximately 9,000 residential land plots.
“These directives will have a lasting positive impact on the lives of Emirati families, aligning with the goals of the ‘Year of Community’ initiative, which promotes social cohesion and underscores the importance of quality housing in building a strong and tight-knit society,” stated His Excellency Hamad Hareb Al Muhairi, director general of Abu Dhabi Housing Authority.
Housing loan benefits approved
In a bid to further enhance family stability and ensure social welfare across Abu Dhabi, Sheikh Khaled has 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.
“The AED250,000 community support deduction will be applied automatically to all eligible housing loan beneficiaries. In addition, the new monthly deduction policy will be implemented on all housing loans issued after 2015, with a cap of 10 percent of total income and a maximum monthly payment of AED10,000,” added Al Muhairi.
Loan repayment extensions to reduce monthly instalments
Sheikh Khaled also approved the extension of loan repayment periods to up to 30 years, helping to reduce monthly instalment amounts. Further flexibility will also be introduced in determining monthly repayment values, which will now be adjusted based on the beneficiary’s monthly income, taking into consideration any changes in financial circumstances after the loan is issued.
Additionally, a deferred-payment home purchase loan will be introduced for low-income citizens aged 25 to 45, enabling them to choose from a wider range of available housing options in Abu Dhabi. Citizens above the age of 45 will also be eligible for ready-built home grants from the capital projects. Moreover, citizens will be exempt from fees related to mutually agreed land plot swaps to facilitate the exchange process and support stronger community and family bonds.
“This new policy, designed in line with the leadership’s direction to ease financial burdens on citizens, will come into effect in September 2025,” Al Muhairi concluded.
