July 27, 2020 / 2:29 PM / 9 days ago

Abu Dhabi to spend 2.78 billion dirhams on mortgage loans, exemptions for citizens: statement

A general view of the Abu Dhabi skyline is seen, December 15, 2009. REUTERS/Ahmed Jadallah/File Photo

DUBAI (Reuters) - 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.

Reporting by Aziz El Yaakoubi; Writing by Yousef Saba; Editing by Louise Heavens

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