Latest news with #housingloans
Khaleej Times
08-08-2025
- Business
- Khaleej Times
Abu Dhabi citizens can now apply for up to Dh500,000 in additional housing loans
Abu Dhabi citizens will soon benefit from expanded financing options aimed at making home ownership more attainable, thanks to a partnership between the emirate's Housing Authority and leading national banks. The initiative was announced through cooperation agreements with First Abu Dhabi Bank, Abu Dhabi Islamic Bank, and Al Maryah Community Bank. It offers additional mortgage financing at interest rates and profit margins partially subsidised by the Abu Dhabi Government, making housing loans more affordable for Emirati families. Under the new scheme, citizens with existing Abu Dhabi Housing Authority loans for purchasing or building a home — and a monthly income above Dh30,000 — can apply for up to Dh500,000 in additional financing from partner banks. Repayment terms can extend up to 25 years, in line with UAE Central Bank regulations and Islamic Sharia principles, with the government covering 50 per cent of the interest or profit margins. The initiative also extends to citizens who have already received a loan worth Dh1.75 million from the authority but have not yet started disbursing funds to developers or contractors. This added flexibility will help them better plan and manage their home construction projects. The move is part of the authority's broader strategy to boost homeownership, provide cost-effective housing solutions, and ensure long-term social stability. By partnering with the banking sector, the Authority aims to build a sustainable housing system that supports citizens' needs and aspirations. "At the Abu Dhabi Housing Authority, we are committed to strengthening our strategic partnerships with the national banking sector, with the aim of providing flexible accessible financing solutions that meet the needs of citizens and meet their aspirations. "These agreements are an extension of our efforts to enable citizens to own suitable housing, within a sustainable housing system that supports family stability and social well-being," said Hamad Hareb Al Mehyas, Director General of the Abu Dhabi Housing Authority. "We are committed to expanding the scope of our services and offering additional financing options that contribute to improving citizens' quality of life and facilitating their journey to building or purchasing suitable housing with ease and convenience," he added. Eligible citizens can request the additional financing from any of the three banks through the 'Abu Dhabi Housing' app.
Arabian Business
25-07-2025
- Business
- Arabian Business
ADNIC to provide life insurance to Emiratis up to the age of 95
Abu Dhabi National Insurance Company (ADNIC) has launched a specialised life insurance offering for eligible UAE nationals through a strategic partnership with the Sheikh Zayed Housing Program (SZHP). The initiative will provide life insurance coverage up to the age of 95, substantially extending beyond the market norm of 70 years old. This enables Emiratis, aged up to 70, to still qualify for housing loans with a maximum tenure of 25 years, significantly enhancing financial inclusion for older borrowers. ADNIC expands life insurance terms The housing loans under the Sheikh Zayed Housing Program are administered through leading local banks that have been associated with programme since its inception. Charalampos Mylonas, Chief Executive Officer of ADNIC, commented: 'As an insurer working at the very heart of the community, we understand why life insurance is so important as it guarantees families a measure of protection against the adverse financial consequences. 'As such, we're proud to work alongside the Sheikh Zayed Housing Program (SZHP) to give individuals a greater sense of economic security and peace of mind. At ADNIC, our commitment remains to make insurance truly about people by protecting their income, assets, health, and lives.' While the scheme is already active through the participating banks, the signing ceremony marked its official public announcement.
Al Bawaba
23-07-2025
- Business
- Al Bawaba
ADNIC and Sheikh Zayed Housing Program sign strategic partnership to support UAE Nationals with life insurance
Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for both corporates and individuals, has announced a strategic partnership with the Sheikh Zayed Housing Program (SZHP) to launch a specialised life insurance offering for eligible UAE Nationals. The partnership was formalised as part of a signing ceremony in Dubai, marking the official public launch of the will manage and lead the insurance program along side other leading insurance companies in the UAE that are associated with the program. The initiative will provide life insurance coverage up to the age of 95, substantially extending beyond the market norm of 70 years old. This enables Emiratis aged up to 70 to still qualify for housing loans with a maximum tenure of 25 years, significantly enhancing financial inclusion for older housing loans under the Sheikh Zayed Housing Program are administered through leading local banks that have been associated with program since its on this partnership, Charalampos Mylonas, Chief Executive Officer of ADNIC, said: 'As an insurer working at the very heart of the community, we understand why life insurance is so important as it guarantees families a measure of protection against the adverse financial consequences. As such, we're proud to work alongside the Sheikh Zayed Housing Program (SZHP) to give individuals a greater sense of economic security and peace of mind. At ADNIC, our commitment remains to make insurance truly about people by protecting their income, assets, health, and lives.' While the scheme is already active through the participating banks, the signing ceremony marked its official public announcement. This milestone reflects ADNIC's continued leadership in developing solutions that support national priorities and the evolving needs of citizens. © 2000 - 2025 Al Bawaba ( Signal PressWire is the world's largest independent Middle East PR distribution service.
LBCI
14-07-2025
- Business
- LBCI
Lebanese President receives Housing Bank delegation, vows support for boosting loan capacity
Lebanese President Joseph Aoun met with the Chairman and General Manager of the Housing Bank, Antoine Habib, accompanied by members of the Bank's Board of Directors, including representatives from major Lebanese banks and the public sector. Habib opened the meeting by highlighting a significant rise in housing loan applications following Aoun's election and the formation of the new government. He contrasted this surge with the stagnation seen during the presidential vacuum, noting that "many Lebanese expatriates are now seriously considering returning home—not just to visit, but to settle permanently." He emphasized the bank's evolving mission to support Lebanese abroad in owning property in their homeland, stating, "Our new strategic plans aim to make the Housing Bank a natural gateway for the diaspora to reconnect with Lebanon through homeownership." President Aoun reaffirmed the bank's essential role in reviving the economy by enabling more Lebanese families to access housing, which in turn supports the engineering and construction sectors. He also pledged to advocate for financial support during his upcoming visits to Bahrain and Algeria, underlining the importance of restoring Lebanon's international economic ties. Aoun urged Habib and his team to continue expanding the bank's capacity and outreach, promising governmental backing to help meet the growing demand for housing solutions across the country.
Argaam
13-07-2025
- Business
- Argaam
Al Rajhi Bank contributes 41% of retail housing loans: Chairman
Al Rajhi Bank 's share in housing loans for individuals currently stands at 41%, said Chairman Abdullah Al Rajhi. He told Al-Arabiya TV that this percentage was achieved by focusing on the retail segment and paying special attention to this product. Any product provided by the bank must be in line with its liquidity and the management of its overall balance sheet, he further noted. The bank is particularly interested in the SMEs segment, said Al Rajhi, adding that the SMEs financing portfolio amounts to SAR 40 billion currently, compared to nearly SAR 10 billion in 2020. He indicated that fintech firms have become market players and pose a threat to banks in general, adding that these firms may represent an opportunity if the banks leverages technology and market developments. Additionally, Al Rajhi Bank has expanded its footprint in fintech sector. It introduced new products and technologies, where the product can be offered via the bank in specific cases or through new fintech firms set up by the bank in other cases. The bank found out that, in certain cases, it is better to own fintech firms, whether wholly or partially, according to the top official.
