UAE to Grant Citizens $2 Billion in Homes, Land, Mortgages

Abu Dhabi’s government is granting 7.2 billion dirhams ($2 billion) in homes, land parcels and mortgage loans to more than 6,100 citizens in the United Arab Emirates ahead of the country’s National Day on Dec. 2, the Abu Dhabi Media Office reported on Saturday.

The government will also exempt some retirees and families of deceased citizens from mortgage repayments, the media office said on Twitter.

Citizens make up a small minority of the UAE’s predominately expatriate population. Many have suffered from the impact of the coronavirus pandemic and oil price collapse has wreaked havoc on the country’s economy.

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