AD CP announces Dhs2.36b housing plan for citizens
Under the directives of the President His Highness Sheikh Khalifa Bin Zayed Al Nahyan, His Highness Sheikh Mohamed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Chairman of the Abu Dhabi Executive Council, has ordered the disbursement of housing loans to 1,347 UAE citizens in Abu Dhabi, worth a total of Dhs2.36 billion.
The first housing package in 2022, which coincides with Eid Al Fitr celebrations, reflects the leadership’ s commitment to ensuring social stability, and enabling UAE citizens to raise strong, stable families that will benefit the future of the UAE.
Later during the day, Sheikh Mohamed Bin Zayed exchanged through a telephone call Eid Al Fitr greetings with Sultan Haitham Bin Tariq Bin Taimur Al Said of Oman.
Sheikh Mohamed conveyed to the Sultan of Oman the greetings of Sheikh Khalifa, and his best wishes for good health, wellbeing and longevity, as well as progress and prosperity for the people of Oman.
The Sultan of Oman, in turn, conveyed his greetings to Sheikh Khalifa and Sheikh Mohamed and his wishes for greater growth, wellbeing and prosperity for the UAE and its people.
The two leaders also prayed to the Almighty Allah for continued progress, welfare and prosperity for the brotherly peoples of the UAE and Oman.
The package forms part of the UAE’S leadership ongoing commitment to further strengthening citizens’ contribution to the advancement of society by maintaining high living standards as part of tightly-knit, connected communities.
Falah Mohammad Al Ahbabi, Chairman of the Department of Municipalities and Transport and Chairman of the Board of Directors Abu Dhabi Housing Authority, said: “This housing package reflects our leadership’s commitment to ensuring the wellbeing of our citizens and prioritising the strength and stability of families.”
He added that Abu Dhabi Housing Authority is continually working towards a modern and sustainable housing ecosystem that enhances social stability and cohesion and also meets Emirati families’ needs in line with the leadership’s vision.
Dr Mohammad Rashid Ahmad Al Hameli, Director General of Abu Dhabi Housing Authority, confirmed that the first housing package of the year aims to amplify citizens’ joy, as a reflection of the leadership’s commitment to securing a safe and secure environment for families.
Dr Al Hameli added: “Immediately ater the leadership issues the directives, we contact beneficiaries to expedite the process so they can claim their housing benefits. This is part of the Abu Dhabi Housing Authority’s strategy to provide high quality, efficient services to UAE citizens and to make their journey seamless and effortless.”
In a separate development, the Department of Municipalities and Transport (DMT) revealed that the Abu Dhabi’s real estate market recorded 3,304 transactions, reaching a value of Dhs11.3 billion in the first quarter of 2022.
The department’s quarterly report revealed that the transactions included the buying, selling, and mortgages of all types of lands, buildings, and real estate. According to the real estate trading index published by DMT, the real estate sector in the emirate recorded 1,722 real estate purchase and sale transactions worth Dhs4.35 billion and 1,582 mortgage transactions worth Dhs6.9 billion.
Yas Island topped the list with Dhs1.2 billion in real estate transactions, followed by Al Saadiyat Island in second place with Dhs673 million. With Dhs598 million, Al Reem Island came in third, Khalifa City came in fourth with Dhs173 million, and the Al Raha Beach area came in fith with Dhs168 million. And finally, Al Shamkha came in sixth with Dhs150 million worth of real estate transactions.
Dr Adeeb Al Afifi, Executive Director of the Real Estate Sector at the Department of Municipalities and Transport, said, “With steady and sustained growth in Abu Dhabi’s real estate sector, the emirate has maintained its position as one of the world’s most sought-ater markets and destinations for real estate investment.
“With excellent infrastructure, a diverse range of options, and world-class services, Abu Dhabi’s real estate industry strengthens its position as one of the best places in the world to live, work, and visit.”
The Dubai real estate and properties transactions valued at Dhs6.6 billion in total during the week ending 29 April 2022. The sum of transactions was 2,259. 197 plots were sold for Dhs1.15 billion, 1,628 apartments and villas were sold for Dhs3.52 billion.
The new housing project, under the directives of Sheikh Khalifa and Mohamed Bin Zayed, will benefit 1,347 Emiratis in Abu Dhabi; AD CP, Sultan of Oman exchange Eid greetings.