HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Executive Council of the Emirate of Abu Dhabi, has ordered the distribution of the first instalment for housing loans, government houses and residential plots besides a total of 2,000 loans worth a total value of Dh3.4 billion ($925 million) for the financial year 2019.

The approval of this instalment for Emirati citizens in Abu Dhabi is being done under the directives of President HH Sheikh Khalifa bin Zayed Al Nahyan and stems from the leadership’s commitment to ensure social stability, enhance living standards and provide the citizens with all their needs to enable them to be active contributors to the development of their community, reported state news agency Wam.

The instalment also comes in line with the directives of His Highness Sheikh Mohammed bin Zayed as part of the Abu Dhabi Government Accelerators Programme "Ghadan 21", to double the number of loans granted annually, stated the report.

In 2018, a total of 12,100 residential loans were granted per a housing loan distribution plan which also saw the approval of loan requests from previous years that have met all the requirements, it added.