Abu Dhabi Housing Authority And ADCB Collaborate To Enhance Housing Loan Options For UAE Nationals

The Abu Dhabi Housing Authority (ADHA) and Abu Dhabi Commercial Bank (ADCB) have joined forces to offer additional loans on existing housing loans. This initiative, backed by the Abu Dhabi government, is aimed at beneficiaries of ADHA’s Housing Loan Programme. It allows eligible citizens to secure extra financing on their original AED1.75 million loans, enabling them to acquire housing that better suits their needs.

Citizens with an existing housing loan for building or purchasing a ready-built house can benefit from this offer. To qualify, their monthly income must exceed AED30,000. They can receive an additional loan of up to AED500,000 from ADCB. The repayment term extends up to 25 years, adhering to Central Bank regulations. The Abu Dhabi government will cover half of the interest and gains on these extra loans.

This agreement targets citizens already benefiting from ADHA's housing loans under the new policies. It includes those who have activated their loans with the bank but haven't started disbursing payments to contractors yet. The collaboration was formalised through an agreement signed by Hamad Hareb Al Muhairi, Director General of ADHA, and Ala’a Eraiqat, CEO of ADCB Group.

Hamad Al Muhairi stated, "This agreement aligns with ADHA's commitment to establishing partnerships with the private sector to provide citizens with a wide range of housing solutions tailored to their needs. It also supports their well-being and family stability in line with the Authority's vision of fostering a sustainable housing system in the emirate."

Ala’a Eraiqat expressed satisfaction with the partnership: "We are pleased to enter into a strategic partnership with the ADHA as it aligns with our firm commitment in contributing to the development of the community and enhancing the quality of life in the UAE."

Eligible citizens can explore various financing options via ADHA’s mobile app or visit ‘ISKAN Abu Dhabi’ directly. This initiative reflects ADCB's dedication to supporting housing services development in line with UAE leadership priorities for a sustainable future.

The collaboration between ADHA and ADCB aims to enhance housing solutions for citizens while promoting family stability and well-being within Abu Dhabi’s sustainable housing framework.

With inputs from WAM