The Abu Dhabi Housing Authority has signed cooperation agreements with three additional national banks to offer top-up real estate financing at subsidised interest and profit rates, supported by the Abu Dhabi Government, reflecting the organisation’s ongoing efforts to increase homeownership rates among UAE Nationals and provide accessible financing solutions.
The agreements will benefit recipients of the housing loan programme provided by the authority, in partnership with First Abu Dhabi Bank, Abu Dhabi Islamic Bank, and Al Maryah Community Bank. It aligns with the authority’s vision to foster a sustainable housing ecosystem that enhances the social wellbeing and family stability of citizens in the emirate.
Through these agreements, Emiratis who have obtained loans from the Abu Dhabi Housing Authority for purchasing or constructing a home, and whose monthly income exceeds AED30,000, can obtain additional financing of up to AED500,000, from empanelled partner banks, with a repayment period of up to 25 years. The financing will be provided by the partner banks in compliance with the regulations of the UAE Central Bank and in accordance with Islamic Sharia principles and internal policies, with Abu Dhabi Government subsidising 50 per cent of its interest and profit rates.
UAE Nationals who have obtained a AED1.75 million loan from the authority, including those who have activated their loans but have not yet begun disbursing payments to contractors and developers, are eligible for this top-up facility, which offers greater flexibility in planning residential homes.
His Excellency Hamad Hareb Al Muhairi, Director General of the Abu Dhabi Housing Authority, said: “The Abu Dhabi Housing Authority remains committed to bolstering strategic partnerships with leading entities in the national banking sector, led by a vision to provide flexible and accessible financing solutions that meet citizens' needs and fulfil their aspirations.
“These agreements also reflect our broader efforts to assist citizens in owning suitable homes within a sustainable housing system that supports their family stability and social wellbeing. Moreover, we remain dedicated to expanding our services and offering additional financing options to enhance citizens' quality of life, further streamlining the journey of building or purchasing homes.”
Eligible UAE Nationals can now benefit from these facilities and apply for top-up financing through any of the participating banks via the Iskan Abu Dhabi app.
