DAMAC and ADIB Collaborate to Facilitate Mortgage Financing for Off-plan Properties
Damac Properties has partnered with Abu Dhabi Islamic Bank (ADIB) to offer home financing solutions to the residents of the United Arab Emirates. This financing option enables people to secure financing for their off-plan properties once the project work reaches 35% completion. This initiative by Damac Properties and ABID will make home ownership in the UAE more easy and accessible.
Damac Properties comes with this customer-friendly investment solution, allowing UAE residents to seek finances when off-plan projects reach 35% completion. This is an amazing step that allows property enthusiasts to purchase their dream properties and capitalize on the UAE’s thriving real estate sector by owning a property.
Amira Sajwani, Managing Director of Sales and Development at Damac Properties, said, This is a game-changer for DAMAC, for residents and investors in the UAE. A trusted partner like ADIB is essential in bringing innovative and accessible home financing solutions to the market. It is also a testament to our unwavering commitment to making homeownership a reality for many residents. We are thrilled to be the first developer in the UAE to introduce this solution, which makes luxury living even more accessible and sets a new standard for financial flexibility in real estate investment in the UAE.”
Elie Hayek, Head of Home Finance at ADIB, said, “At ADIB, we are dedicated to pioneering innovative home financing solutions that empower investors and contribute to the growth of the real estate market in the UAE. Our collaboration with DAMAC Properties exemplifies this commitment, and we are proud to support the introduction of this exclusive plan, which aligns with our vision of providing seamless, Sharia-compliant financing options to homebuyers.”
Undoubtedly, this development will have a significant impact on the property sector of the UAE. This innovative and accessible financing solution is set to make property ownership in the UAE more easier and flexible as it enhances affordability, allowing property investors to meet their investment objectives without worrying about financial constraints.