The Abu Dhabi Department of Finance’s commercial buildings finance committee approved 245 loans for funding commercial buildings at a total cost of more than Dh3 billion on instructions of Sheikh Khalifa, President of the UAE.
Sheikh Mohammed bin Zayed, the Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, also helped in the approval of the property loans for Emiratis who own lands but did not have adequate financing to build commercial business facilities, Wam, the state news agency, reported.
Of the total 245 finance facilities, 133 were allocated for demolishing and rebuilding residential investment towers and villas, 103 for building new buildings and 9 for building annexes to buildings.
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