Abu Dhabi Housing Authority, ADCB partner to offer top-up housing loans for UAE Nationals

Photo : Abu Dhabi Media Office 

The Abu Dhabi Housing Authority (ADHA) and Abu Dhabi Commercial Bank (ADCB) have entered into a strategic partnership aimed at providing UAE Nationals in Abu Dhabi with top-up housing loans. These additional loans are designed to offer greater flexibility and financial support to citizens who are beneficiaries of ADHA’s Housing Loan Program. The initiative allows eligible individuals to secure extra financing of up to AED 500,000 on top of their existing housing loans, with both interest and Murabaha options available. This is part of a broader effort, supported by the Abu Dhabi government, to help citizens achieve housing solutions that better meet their evolving needs.

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Under this agreement, UAE Nationals who have already secured an existing housing loan of AED 1.75 million for building or purchasing a ready-built home will be eligible to apply for the top-up loan. To qualify, the applicants must have a monthly income of more than AED 30,000 and comply with the Central Bank's regulations. The top-up loans will have a repayment period of up to 25 years, ensuring that citizens have enough time to manage their finances without excessive strain. In an added benefit, the Government of Abu Dhabi will cover 50 per cent of the interest and profits on these additional loans, significantly easing the financial burden on loan recipients.

The scope of the agreement covers citizens who have already activated their initial loans through ADHA but may not have begun disbursing payments to contractors. This collaboration aims to provide greater flexibility for homeowners who are building or purchasing homes and who may require additional funds to complete their housing projects. The top-up loans will help recipients to either enhance their existing properties or secure homes that better suit their current family and lifestyle needs.

The partnership was officially marked with the signing of an agreement between His Excellency Hamad Hareb Al Muhairi, Director General of the Abu Dhabi Housing Authority, and Ala’a Eraiqat, Chief Executive Officer of ADCB Group. Speaking on the occasion, His Excellency Hamad Hareb Al Muhairi highlighted that this collaboration aligns with the ADHA’s mission to foster partnerships with the private sector to offer a wide range of housing solutions tailored to the needs of Abu Dhabi citizens. He added that the initiative is part of the Authority’s broader vision to promote family stability and well-being by creating a sustainable housing system that addresses the evolving needs of the population.

Ala’a Eraiqat, CEO of ADCB Group, expressed the bank’s commitment to contributing to the UAE's housing sector, a priority area identified by the nation's leadership. He stressed that the partnership with ADHA reflects ADCB’s ongoing efforts to support the development of the housing services sector, aiming for a prosperous and sustainable future for UAE citizens.

Eligible citizens interested in exploring this new financing option can access the services through the Abu Dhabi Housing Authority’s mobile application or by visiting the ‘ISKAN Abu Dhabi’ center directly. Through this initiative, ADHA and ADCB hope to make it easier for citizens to secure the homes they need while ensuring the stability and sustainability of the housing sector in Abu Dhabi.