DAMAC Properties, a leading UAE real estate developer, has joined forces with Abu Dhabi Islamic Bank (ADIB) to introduce a groundbreaking home financing solution. This initiative aims to enhance accessibility to homeownership by allowing UAE residents to secure financing for off-plan properties once construction reaches 35% completion.
By pioneering this approach, DAMAC becomes the first developer in the region to offer such a financing model, streamlining the home-buying process and making property ownership more convenient for potential buyers.
Enhancing Accessibility to Luxury Real Estate
This financing initiative reflects the shared commitment of DAMAC and ADIB to delivering customer-focused financial solutions that simplify investments in high-end real estate. As market conditions evolve, this offering provides residents and investors with the opportunity to acquire prime properties while capitalizing on market appreciation.
Amira Sajwani, Managing Director of Sales and Development at DAMAC Properties, emphasized the significance of this development, stating: “This is a transformative step for DAMAC, UAE residents, and investors. Partnering with a trusted financial institution like ADIB allows us to introduce innovative and accessible home financing solutions. Our goal is to make homeownership a reality for many, and we take pride in being the first UAE developer to bring this unique solution to market. This initiative enhances financial flexibility and sets a new standard in real estate investment.”
Commitment to Sharia-Compliant Home Financing
Elie Hayek, Head of Home Finance at ADIB, echoed similar sentiments, highlighting the bank’s dedication to pioneering financial solutions that empower investors and support the UAE’s real estate sector. “At ADIB, we remain committed to delivering seamless, Sharia-compliant financing options that cater to homebuyers’ evolving needs. Our collaboration with DAMAC exemplifies this commitment, and we are proud to support an exclusive plan that aligns with our vision for innovative home financing.”
A Timely Initiative Amidst Market Growth
DAMAC’s introduction of this flexible financing plan aligns with the UAE’s booming property market, where buyer confidence is at an all-time high. As real estate values continue to rise, this initiative ensures that premium property investments remain within reach for a broader spectrum of buyers.
By continuously adapting to market dynamics and investor preferences, DAMAC reinforces its reputation for delivering investor-friendly solutions and setting new benchmarks in real estate financing.
Source: https://www.arabianbusiness.com/industries/banking-finance/uae-real-estate-developer-and-bank-team-up-for-game-changing-property-financing-offer
