Abu Dhabi Approves $22.5B Housing Plan to Support Family Stability

Abu Dhabi has approved a monumental AED82.7 billion ($22.5 billion) housing initiative aimed at bolstering the real estate sector and enhancing family stability across the emirate. Under the directives of UAE President Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan has sanctioned 14 integrated housing projects set to deliver 35,000 new housing benefits over the next five years.

Expanding Housing Opportunities

The ambitious plan includes the construction of 26,000 residential units for Emirati citizens and the development of approximately 9,000 residential land plots. These projects are designed to provide high-quality housing solutions that cater to the diverse needs of Abu Dhabi's growing population.

Enhanced Housing Loan Benefits

In a move to ease financial burdens, the initiative introduces a community support subsidy of AED250,000 ($68,000) to be automatically deducted from housing loans totaling AED1.75 million ($476,500), as per the 2023 housing benefits policy. Additionally, loan repayment periods have been extended up to 30 years, with monthly repayments adjusted based on the beneficiary’s income, accommodating any changes in financial circumstances post-loan issuance.

Support for Diverse Demographics

The program also caters to various age groups and income levels. Low-income citizens aged 25 to 45 will have access to deferred-payment home purchase loans, expanding their housing options. Citizens over 45 years old will be eligible for ready-built home grants, ensuring that housing support is inclusive and comprehensive.

Facilitating Community Cohesion

To promote stronger community and family bonds, citizens will be exempt from fees related to mutually agreed land plot swaps, simplifying the exchange process and fostering community cohesion.

Mohamed Ali Al Shorafa, Chairman of the Abu Dhabi Housing Authority, expressed gratitude to the leadership for their commitment to the well-being of Emirati citizens, stating that these initiatives will significantly enhance family stability and social cohesion.

Hamad Hareb Al Muhairi, Director-General of the Abu Dhabi Housing Authority, highlighted that the AED250,000 community support deduction will be applied automatically to all eligible housing loan beneficiaries. He also noted that the new monthly deduction policy, capping payments at 10% of total income with a maximum of AED10,000 per month, will be implemented for all housing loans issued after 2015, effective September 2025.