UAE approved $23 billion to develop 76,000 new homes for nationals. President UAE and Ruler of Abu Dhabi, Sheikh Mohamed bin Zayed Al Nahyan, and Crown Prince Abu Dhabi, Sheikh Khaled, approved the decision.
The money will build integrated residential developments in Abu Dhabi to provide 76,000 homes and plots in five years.
Khaled bin Mohamed bin Zayed has approved an AED85.4bn budget to create integrated, residential neighbourhoods in Abu Dhabi emirate to improve quality of life. pic.twitter.com/9NdeBSuYKl
UAE residential developments will have mosques, schools, public parks, and green spaces. These programmes attempt to raise living standards and stabilise Abu Dhabi families.
AED2.7 Billion Housing Aid
Sheikh Khaled also sanctioned AED 2.74 billion ($746 million) for housing assistance for 1,800 Abu Dhabi residents before Eid Al-Fitr.
President UAE ordered the announcement. Low-income pensioners and mortgagor families received loan forgiveness.