Dubai: His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, has orders that Emirati owners of homes in Abu Hail Development project be waived from their remaining loans of Dh173 million.
Sheikh Mohammed’s gesture, which coincides with the 48th UAE National Day, aims to ease the financial burden of Emiratis and help them own a appropriate housing that guarantees them enjoying a dignified life.
He instructed Dubai’s Department of Finance to take the necessary procedures for implementation of the exemptions.
Abdul Rahman Al Saleh, Director General of the department, said that the department has immediately taken the needful measures to implement Shaikh Mohammad’s gesture that reflects his keenness to ease the burden of Emiratis and ensure they enjoy a decent life and family stability.
He underlined that the department is coordinating with the Dubai Real Estate Corporation, which is executing the Abu Hail project that includes 390 villas worth Dh392 million, and are owned by 600 Emiratis.