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Abu Dhabi announces up to Dh500,000 loan offer for Emiratis

The government will cover 50 per cent of the interest and gains on these additional housing loans

Published: Sat 21 Sep 2024, 1:06 PM

Updated: Sat 21 Sep 2024, 11:03 PM

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Emiratis who have taken out a loan to build or purchase a house can apply for a top-up of up to Dh500,000 under the Abu Dhabi government's new initiative, it was announced on Saturday.

This initiative enables eligible citizens to secure additional financing on their original loans of Dh1.75 million, helping them obtain housing that better meets their needs, the authorities said.


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The Abu Dhabi Housing Authority (ADHA) has partnered with Abu Dhabi Commercial Bank (ADCB) to offer the top-up loans, with interest and Murabaha options supported by the Abu Dhabi government.

Here are the eligibility criteria:

  • The initiative is for beneficiaries of the Adha's Housing Loan Programme, with loan amounts of Dh1.75 million.
  • The applicant should have a monthly income of at least Dh30,000.
  • It includes citizens who have activated their loans with the bank but have not yet started disbursing payments to contractors.

Here are some of the terms:

  • The loan repayment period will be up to 25 years, in compliance with the Central Bank’s regulations and requirements.
  • The government of Abu Dhabi will cover 50 per cent of the interest and gains on the additional loans.

Eligible citizens can explore the financing options through the Adha's mobile application or visit the ‘Iskan Abu Dhabi’ directly.

This collaboration was formalised through the signing of an agreement by His Excellency Hamad Hareb Al Muhairi, Director General of the Abu Dhabi Housing Authority and Ala’a Eraiqat, Chief Executive Officer of ADCB Group.

"The agreement will provide unique, value-added financing options for citizens seeking to obtain extra financial aid," said Hamad Hareb Al Muhairi, director-general of Adha.

“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," he added.

Ala’a Eraiqat, CEO of ADCB Group, said: "At ADCB, we recognise the vital role that banking institutions play in the housing sector, a priority for the UAE’s leadership. In line with this, we remain determined to support the development of housing services in the UAE in order to achieve a prosperous and sustainable future for all members of the society.”

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