Abu Dhabi Executive Council has approved to disburse AED 5.5 billion worth of housing loans, houses, and residential plots to more than 5,500 nationals within the UAE capital, Trade Arabia reports.
This comes following the directives from UAE President Sheikh Khalifa bin Zayed Al Nahyan, Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of UAE Armed Forces.
The first installment of loans, houses, and plots comes in line with the leadership’s commitment to ensure social stability and enhance living standards of UAE nationals, the news website added.
Sheikh Mohamed bin Zayed’s directive to double the number of loans to UAE citizens is part of Abu Dhabi’s Development Accelerator Program, ‘Ghadan 21’, it highlighted.
On a separate note, the General Assembly of the Bureau International des Expositions (BIE) has approved the postponement of “Dubai Expo” till October 2021, instead of October 2020. A two-thirds majority of BIE’s Member States voted in favor of postponing the next World Expo by one year, according to the exhibition’s higher committee statement.