His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, has ordered the Department of Finance to waive outstanding home loans worth Dh173 million of Emiratis in Abu Hail area in Deira.
The announcement was made on the occasion of the UAE’s 48th National Day celebrations.
His Excellency Abdulrahman Saleh Al Saleh, Director General of the Government of Dubai’s Department of Finance, said that the Department has started implementing the directives, which reflects the Ruler’s keenness to free citizens from financial burdens and enhance their welfare and happiness.
Abdulrahman Saleh Al Saleh also said that the Department is currently coordinating with the Dubai Real Estate Corporation’s Wasl, which manages the project located in Abu Hail area for which the home loans were provided. The Dh392 million project has 390 villas owned by 600 Emiratis.