Abu Dhabi Announces Dh21.8 Billion Housing Benefits Approval
In a move aimed at bolstering social welfare and supporting citizens across the emirate, Abu Dhabi has unveiled a substantial housing benefits package totaling Dh21.8 billion.
The announcement, made on Monday, signifies a significant commitment from the leadership towards enhancing living standards and ensuring the well-being of its residents.
Under the directive of President Sheikh Mohammed bin Zayed Al Nahyan, who also serves as the ruler of Abu Dhabi, and Sheikh Khalid bin Mohammed Al Nahyan, the Crown Prince of Abu Dhabi, the first tranche of housing and welfare assistance for 2024 has been approved. This monumental decision reflects the leadership's unwavering dedication to addressing the housing needs of the community and providing essential support to its citizens.
The housing benefits initiative encompasses a diverse array of provisions, including housing loans, grants for existing homes, and allocations of residential land, amounting to more than Dh2.18 billion. This comprehensive support package is poised to positively impact the lives of 1,502 citizens across the emirate, offering them greater stability and security in their housing arrangements.
Of the total allocation, Dh2,082 million has been earmarked for housing loans and grants, benefiting 1,407 citizens. This injection of financial assistance is set to alleviate the burden of housing expenses and facilitate access to affordable housing solutions for eligible individuals and families.
Moreover, in a gesture of compassion towards vulnerable segments of society, senior citizens, low-income retirees, and families of deceased citizens have been granted exemptions from housing loan repayments, totaling more than Dh98 million. This measure directly benefits 95 citizens of the Emirate, providing them with much-needed relief from financial obligations associated with housing loans.
The announcement underscores Abu Dhabi's steadfast commitment to prioritizing the welfare and prosperity of its citizens, particularly in crucial areas such as housing and social assistance. By extending substantial support measures, the leadership demonstrates a proactive approach towards addressing societal needs and fostering inclusive development across the emirate.
As the implementation of housing benefits commences, it is expected to significantly enhance the quality of life for residents and contribute towards building a more resilient and equitable society in Abu Dhabi.
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