Abu Dhabi to spend $757mln on mortgage loans, exemptions for citizens -statement

Disburse mortgage loans for 1,500 citizens and exempt mortgage repayments for 476 retirees

  
Sheikh Mohammed bin Zayed Al Nahyan is the Crown Prince of the Emirate of Abu Dhabi and Deputy Supreme Commander of the United Arab Emirates Armed Forces. Image courtesy Sheikh Mohamed bin Zayed's official Twitter handle.

Sheikh Mohammed bin Zayed Al Nahyan is the Crown Prince of the Emirate of Abu Dhabi and Deputy Supreme Commander of the United Arab Emirates Armed Forces. Image courtesy Sheikh Mohamed bin Zayed's official Twitter handle.

DUBAI - The Abu Dhabi government will spend 2.78 billion dirhams ($757 million) to disburse mortgage loans for 1,500 Emirati citizens and exempt mortgage repayments for 476 retirees, the government said on Twitter.

The disbursal and exemptions were ordered by Abu Dhabi's Crown Prince Sheikh Mohammed bin Zayed al-Nahyan for the occasion of Eid al-Adha, a four-day Muslim holiday.

($1 = 3.6726 UAE dirham)

(Reporting by Aziz El Yaakoubi; Writing by Yousef Saba Editing by Louise Heavens) ((Yousef.Saba@thomsonreuters.com; +971562166204))


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