|08 December, 2019

Low income group exempted from paying UAE housing loans

The royal decree also covers the families of deceased Emirati citizens

Image used for illustrative purpose. The skyscrapers in Dubai, United Arab Emirates.

Image used for illustrative purpose. The skyscrapers in Dubai, United Arab Emirates.

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UAE Vice President and Prime Minister of the UAE and Ruler of Dubai HH Sheikh Mohammed bin Rashid Al Maktoum has ordered the exemption of financially-distressed citizens, whose monthly income is below Dh15,000 ($4,083.4), from repaying the remainder of housing loans taken under the Sheikh Zayed Housing Programme (SZHP).

The royal decree also covers the families of deceased Emirati citizens, said a statement from Dubai Media office.

It is aimed at alleviating the financial burdens of low-income groups, and help their families achieve social and economic stability, it added.-TradeArabia News Service

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