ABU DHABI, 12 July – UAE President Mohamed bin Zayed Al Nahyan has ordered to disburse AED1.5 billion ($408.3 million) worth of housing benefits to Emiratis in Abu Dhabi.
Covering more than 1,100 beneficiaries, the payout includes grants for houses, loans, as well as exemption of retirees and the deceased from paying dues of housing loans, state news agency WAM has reported.
The recent housing package is the second of its kind this year. In April, the UAE also allocated AED2.36 billion in housing benefits – with the announcement also coinciding with Eid celebrations.
The move is part of the UAE’s series of efforts to enhance living standards of its citizens. It follows a host of other benefits announced in recent weeks, including a reformed social welfare programme.
The reformed program raised social support scheme for citizens from AED2.7 billion to AED5 billion annually. It included provisions for “inflation subsidies,” including fuel, food, electricity, and water subsidies. — Arabian Business