Dubai Waives AED 146m in House Loan Repayments for Low-Income Citizens

The decision will help improve living standards of Emiratis.

Publish date: Thursday، 20 April 2023 Last update: since a day

Dubai Waives AED 146m in House Loan Repayments for Low-Income Citizens

Dubai will waive AED 146 million in housing loan repayments for 426 low-income citizens and this step will be taken to improve the living standards of Emiratis, according to the Crown Prince of Dubai Sheikh Hamadan bin Mohammed.

Sheikh Hamdan posted a tweet about the decision in which he said "we continue to implement initiatives and provide all support to enhance the standard of living for all citizens in Dubai."

وجهنا بإعفاء 426 مواطناً من ذوي الدخل المحدود من سداد قروض الإسكان المتبقية عليهم، والبالغ قيمتها 146 مليون درهم … وتتولى اللجنة العليا للتنمية وشؤون المواطنين متابعة تنفيذ القرار…مستمرون في تنفيذ المبادرات وتوفير كل الدعم لتعزيز المستوى المعيشي لكل المواطنين في دبي.
— Hamdan bin Mohammed (@HamdanMohammed) April 19, 2023

Dubai's Higher Committee for Development and Citizens Affairs will implement the decision. The act is one of the more recent efforts of the UAE leadership to support the local population's housing needs.

On Monday, Sheikh Khaled bin Mohamed approved 2.74 billion for a housing support plan for Emiratis living in Abu Dhabi.