Abu Dhabi: New decree on commercial building financing law
General Sheikh Mohammed bin Zayed Al Nahyan, Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces, has issued a decree enacting the executive regulations of the commercial building financing law. Under the decree, cited by WAM, the maximum limit of loan of commercial buildings is fixed at Dh 40 million.
The legislation binds the Commercial Buildings Committee at the Department of Social Services and Commercial Buildings not to exceed the financial allocations as set out for it annually by Abu Dhabi Executive Council.
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