Abu Dhabi Housing Authority has granted Emiratis another two years to activate their housing loans to reduce pressure on UAE citizens.
Two years were added to the time in which Emiratis could activate loans for building, demolition, reconstruction and maintenance of homes, state news agency Wam reported on Friday.
The move aligns with developments in the construction market and changes related to the cost of implementing construction work, reported Wam.
Previously, Emiratis would have to activate housing loans within a three-year period.
The announcement was made in line with the UAE's designation of 2026 as the Year of the Family.
In March, Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, approved a housing assistance package valued at Dh4.21 billion, which will benefit 2,652 citizens across the emirate.
More than Dh181 billion in housing support has been distributed to more than 132,000 citizens since the establishment of the Abu Dhabi Housing Authority in 2012.
In September last year, Abu Dhabi announced a Dh106 billion ($28.8 billion) master plan to develop 13 residential communities featuring more than 40,000 homes and land plots for Emiratis.
