Damac in deal to facilitate home ownership for UAE residents
DUBAI, 4 days ago
Damac Properties, a leading UAE developer, has partnered with Abu Dhabi Islamic Bank (ADIB) to introduce a home financing solution that enables UAE residents to secure financing for off-plan properties once construction reaches 35% completion.
This makes Damac the first developer to offer such a financing option, making homeownership more accessible and convenient for buyers.
This initiative aligns with Damac and ADIB’s commitment to providing customer-centric financial solutions that simplify investing in luxury real estate.
As market dynamics evolve, this financing plan represents a leap forward, enabling residents and investors to secure prime properties and benefit from market appreciation.
On the key deal, Amira Sajwani, Managing Director of Sales & 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."
Damac is pushing the envelope in home finance by introducing a more flexible financing plan tailored to evolving market conditions and investor needs.
This initiative comes as the UAE’s property market is witnessing a significant surge, and buyer confidence is reaching record levels.
"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," she stated.
Elie Hayek, the 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," stated Hayek.
As property values are expected to climb and market dynamics evolve, this initiative ensures that premium real estate investments remain accessible to a wider pool of buyers.
With this strategic move, Damac continues to reinforce its commitment to investor-friendly solutions and set new real estate financing benchmarks, she added.-TradeArabia News Service
