It is an initiative taken by the Abu Dhabi Housing Authority in collaboration with Abu Dhabi Commercial Bank. The collaboration has therefore resulted in easier accessibility of additional financing with greater benefits for Emirati home owners. The government is subsidizing the interest and Murabaha alternatives for top-up loans to ease the financial burdens on the citizens.

It does have some eligibility criteria for applicants. Applicants should be beneficiaries of the Housing Loan Program provided by ADHA, and the loan can go up to a maximum of Dh1.75 million. Another criterion for this top-up loan is that applicants must have a minimum monthly income of Dh30,000. The program is also extended to those who have activated their loans with the bank but have not started paying the contractors yet, meaning that a large audience of potential home owners would be covered under this opportunity.

To that effect, the loan repayment period will be as long as 25 years, as agreed upon by the regulation and requirement of the Central Bank. More importantly, the government of Abu Dhabi shall bear 50 percent of the interest and profit arising from these complementary loans, hence reducing the burden of the borrowers to an absolute minimum.

The eligible citizens find this facility quite easy to avail. Citizens can access both the ADHA mobile app and visit the office of 'Iskan Abu Dhabi' for further information and application initiation.

The collaboration was signed between the two entities through an agreement between His Excellency Hamad Hareb Al Muhairi, Director General of ADHA, and Ala'a Eraiqat, Chief Executive Officer of ADCB Group. Accordingly, both leaders assured more financial facilities would be extended to Emirati nationals seeking housing solutions.

Hamad Hareb Al Muhairi drew attention to this agreement, adding that it would provide special finance solutions with additional liquidity for the citizens. He pointed out that ADHA focuses on building strategic relationships and partnerships with the private sector for more options on housing solutions tailored to the needs of the community.

On his part, Ala'a Eraiqat said, "The banks play a very important role in the housing sector that the wise leadership of the UAE focuses on." He added that ADCB would do its part to enable the UAE to develop its housing services, adding to a prosperous, secure, and sustainable future for every member of society.

It is not just a question of greater financial input but a far-reaching engagement by the Abu Dhabi government and its partners in enhancing the quality of life of the Emiratis. They are making it easier for citizens to acquire adequate housing, thereby directly contributing to family betterment and stability across the emirate.

In other words, the new loan top-up initiative of the Abu Dhabi government is a serious step toward helping Emiratis get the houses they want. The program is intended to make home ownership more accessible and sustainable by providing additional financing options through its partnership with ADCB. Having good conditions for repayments and cost support for interest provided by the government, this program will bring positive change into the lives of many citizens concerning having homes that match their requirements.

Abu Dhabi Launches Loan Program for Emiratis, Offering Up to Dh500,000

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