Maintenance Loans

Maintenance Loans:

Demolition and Reconstruction Loan:
• For homes that are 30 years or older from the date of construction, or in emergency cases
• Loan amount: AED 1.75 million
• Loan activation period: 3 years from the date of approval
Maintenance and Expansion Loans:
• For homes that are 10 years or older from the date of construction, or in emergency cases
• Loan activation period: within 18 months from the date of approval
• Existing home maintenance loan: AED 500,000
• Existing home expansion/addition loan: AED 750,000
• Existing home maintenance and/or expansion/addition loan: AED 1.1 million
General Terms and Conditions:
1. The applicant must be a UAE national residing in the Emirate of Abu Dhabi
2. The applicant must have continuous residency in the UAE
3. The applicant must be at least 25 years old (exceptions apply to married individuals and special social or humanitarian cases as per the social report)
4. The applicant must own a house in the emirate registered in their name and free of any legal restrictions on construction or disposal at the time of loan approval
5. The house must require demolition or maintenance according to technical reports issued by the Authority or any other entity it designates
6. All outstanding installments related to any housing loan benefits must be settled, if applicable
7. The applicant must undertake to use the loan amount for carrying out maintenance and/or expansion works as specified in the technical report issued by the Authority or any other designated entity

Reference:  https://www.instagram.com/p/DXO8CdmDD2I/?img_index=4&igsh=ZmM0MnVxZmRlMDY=