DAMAC Properties has partnered with Abu Dhabi Islamic Bank (ADIB) to introduce a groundbreaking home financing solution.
In an exciting development for the UAE real estate market, DAMAC Properties has partnered with Abu Dhabi Islamic Bank (ADIB) to introduce a groundbreaking home financing solution. This collaboration aims to make homeownership more accessible and convenient for UAE residents by offering a unique financing option for off-plan properties.
The new financing solution allows UAE residents to secure home financing for off-plan properties once construction reaches 35% completion. This makes DAMAC the first developer in the UAE to offer such a financing option, setting a new standard for financial flexibility in real estate investment. By providing this innovative solution, DAMAC and ADIB are making luxury living more accessible to a wider pool of buyers.
This financing plan is a game-changer for both homebuyers and investors. It enables them to secure prime properties and benefit from market appreciation as property values are expected to climb. The initiative aligns with DAMAC and ADIB’s commitment to providing customer-centric financial solutions that simplify investing in luxury real estate.
Amira Sajwani, Managing Director of Sales and Development at DAMAC Properties, emphasized the significance of this partnership. She stated, “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”. This collaboration reflects DAMAC’s unwavering commitment to making homeownership a reality for many residents.
Elie Hayek, Head of Home Finance at ADIB, expressed his enthusiasm for the collaboration. He 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”. ADIB’s support for this exclusive plan aligns with their vision of providing seamless, Sharia-compliant financing options to homebuyers.
This initiative comes at a time when the UAE’s property market is witnessing a significant surge, and buyer confidence is reaching record levels. By introducing a more flexible financing plan tailored to evolving market conditions and investor needs, DAMAC is pushing the envelope in home finance. This strategic move ensures that premium real estate investments remain accessible to a wider pool of buyers.
In summary, the partnership between DAMAC Properties and Abu Dhabi Islamic Bank marks a significant milestone in the UAE real estate market. By offering a unique financing solution for off-plan properties, they are making luxury living more accessible and setting new benchmarks for financial flexibility in real estate investment. This collaboration is a testament to their commitment to providing customer-centric solutions and empowering investors in the UAE.
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