The initiative was authorized under the leadership of Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE and Ruler of Abu Dhabi. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, announced the approval of 14 integrated housing projects across the region.

These projects are set to offer 35,000 new housing benefits over the next five years, including 26,000 residential units designated for Abu Dhabi citizens, with a combined budget of AED82.7 billion ($22.5 billion) and the development of around 9,000 residential land plots.

Enhancing Real Estate in Abu Dhabi

In alignment with the leadership’s dedication to enhancing family stability and ensuring social welfare, Sheikh Khaled bin Mohamed bin Zayed Al Nahyan has also approved various enhancements to the housing loans framework.

Among these improvements is a community support subsidy of AED250,000 ($68,000), which will be automatically deducted from the total loan amount for all housing loans up to AED1.75 million ($476,500), in accordance with the 2023 housing benefits policy.

Additionally, the loan repayment periods have been extended to a maximum of 30 years, which will help lower monthly payments.

Further adaptations will be made to facilitate monthly repayment amounts, now adjusted based on the beneficiary’s income, taking into account any subsequent changes in their financial circumstances.

A new deferred-payment home purchase loan will also be available to low-income citizens aged 25 to 45, allowing for a broader selection of housing options.

Furthermore, citizens over 45 years old will qualify for grants for ready-built homes as part of this initiative.

To bolster community ties, citizens will also be exempt from fees associated with agreed-upon land plot swaps, simplifying the exchange process.

Mohamed Ali Al Shorafa, Chairman of the Board of Directors of the Abu Dhabi Housing Authority, expressed gratitude towards Sheikh Mohamed bin Zayed Al Nahyan and Sheikh Khaled bin Mohamed bin Zayed Al Nahyan for their generous directives and unwavering commitment to the welfare of Emirati citizens. He highlighted the importance of enhancing family stability and social cohesion through access to high-quality housing.

Hamad Hareb Al Muhairi, Director-General of the Abu Dhabi Housing Authority, echoed similar sentiments. He emphasized how these directives will positively affect Emirati families and align with the aims of the ‘Year of Community’ initiative, which emphasizes social cohesion and the value of quality housing in fostering a strong community.

"The AED250,000 community support deduction will be automatically applied to all eligible housing loan beneficiaries. The new monthly deduction policy will affect all housing loans issued after 2015, limiting payments to 10% of total income with a maximum monthly payment of AED10,000," he stated.

He concluded, "This policy, designed to alleviate financial burdens for citizens, is set to take effect in September 2025."

Abu Dhabi Endorses $22.5 Billion Housing Development Initiative

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