Abu Dhabi Government Unveils New Initiative for Emiratis to Access Home Loan Top-Ups of Up to Dh500,000

Emiratis who have previously taken a loan to build or purchase a home can now apply for a top-up loan of up to Dh500,000, thanks to a new initiative launched by the Abu Dhabi government. This program is designed to help eligible citizens enhance their existing loans of Dh1.75 million, providing them with the financial support needed to secure housing that better suits their needs.

The Abu Dhabi Housing Authority (ADHA) has partnered with Abu Dhabi Commercial Bank (ADCB) to offer these additional loans. The Abu Dhabi government will cover 50% of the interest and gains on the top-up financing, making it more affordable for beneficiaries.

Eligibility Criteria:

• The initiative is available to participants in ADHA’s Housing Loan Programme, who have loan amounts of Dh1.75 million.
• Applicants must have a monthly income of at least Dh30,000.
• The program also includes citizens who have activated their loans but have not yet begun disbursing payments to contractors.

Key Terms:

• Loan repayment periods can extend up to 25 years, in accordance with the Central Bank’s regulations.
• Citizens can explore financing options through ADHA’s mobile application or by visiting the ‘Iskan Abu Dhabi’ platform.

This initiative was formalized through an agreement signed by His Excellency Hamad Hareb Al Muhairi, Director General of the Abu Dhabi Housing Authority, and Ala’a Eraiqat, CEO of ADCB Group.

Hamad Hareb Al Muhairi emphasized that the collaboration with the private sector reflects ADHA’s dedication to offering a diverse range of housing solutions tailored to citizens' needs. Ala’a Eraiqat, CEO of ADCB, highlighted the crucial role of banking institutions in the housing sector, noting that this initiative aligns with the UAE’s leadership priorities for a sustainable future.

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