Abu Dhabi Announces Housing Plan

Abu Dhabi is set to see a significant boost in housing with the approval of 14 new integrated projects by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi. These projects, with a total budget of Dh82.7 billion, will deliver 35,000 housing benefits over the next five years. This includes 26,000 residential units for Abu Dhabi citizens and the development of approximately 9,000 residential land plots.

The housing loan ecosystem will also see several enhancements. A community support subsidy of AED250,000 will be automatically deducted from housing loans totaling AED1.75 million, as per the 2023 housing benefits policy. Loan repayment periods will be extended to up to 30 years, reducing monthly installments. Furthermore, monthly repayment values will be adjusted based on the beneficiary's income, accommodating changes in financial circumstances.

Additional initiatives include a deferred-payment home purchase loan for low-income citizens aged 25 to 45, offering them more housing options. Citizens over 45 will be eligible for ready-built home grants. To facilitate land plot swaps and strengthen community bonds, citizens will be exempt from related fees.

These measures aim to ease financial burdens on citizens, promote social cohesion, and improve the quality of life for Emirati families. The new monthly deduction policy, capped at 10% of total income with a maximum payment of AED10,000, will be implemented on all housing loans issued after 2015, starting in September 2025.