ADHA partnered with ADCB to offer top-up loans Emiratis up to Dh500,000 to build or purchase a house

The Abu Dhabi government stated on Saturday that Emiratis who have taken out a loan to build or buy a house can apply for a top-up of up to Dh500,000 under this new scheme. 

According to the government, this program helps qualified individuals get further funding for their Dh1.75 million initial loans, allowing them to buy homes that better suit their needs.

The Abu Dhabi government supports the interest and Murabaha choices for the top-up loans, which are being offered by the Abu Dhabi Housing Authority (ADHA) in partnership with Abu Dhabi Commercial Bank (ADCB).

These are the requirements for eligibility: 

- The Dh1.75 million housing loan program's beneficiaries are the focus of this initiative. 

- At least Dh30,000 should be the applicant's monthly income. 

- It encompasses individuals who have commenced making payments to contractors after activating their bank loans.

Some of the terms are as follows: 

- In accordance with the rules and specifications of the Central Bank, the loan payback period may last up to 25 years. 

- The Abu Dhabi government will pay for half of the gains and interest on the additional loans.

A formal agreement was signed by Ala'a Eraiqat, the Chief Executive Officer of ADCB Group, and His Excellency Hamad Hareb Al Muhairi, the Director General of the Abu Dhabi Housing Authority, to enable eligible citizens to investigate financing options through the Adha mobile application or by going directly to "Iskan Abu Dhabi."