Economy

Abu Dhabi gives 7.2 billion in homes, land, loan forgiveness to more than 6,100 citizens


The Abu Dhabi Media Office announced on Saturday that Abu Dhabi’s government is providing 7.2 billion dirhams ($2 billion) in homes, land parcels and mortgage loans to more than 6,100 citizens in the United Arab Emirates before of the country’s National Day on December 2.

The media office related in a tweet: Totaling 7.2 billion dirhams, the third package of housing benefits disbursed this year reflects the leadership’s ongoing commitment to ensuring the social stability of UAE citizens. It also said: The package includes 3,099 plots of land, 2,000 housing loans and 601 homes, which were granted to citizens in #AbuDhabi, Al Ain and Al Dhafra, as well as home loan repayment exemptions for 381 citizens, worth 340 million aed.

The media office also reported on Twitter that the government would also exempt certain retirees and families of deceased citizens from mortgage repayments.

Citizens constitute a small minority of the UAE’s predominately expatriate population, and a lot have suffered from the impact of the coronavirus pandemic. The oil price failure has caused disorder on the country’s economy.

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