DAMAC Properties has made a groundbreaking move by partnering with Abu Dhabi Islamic Bank (ADIB) to introduce a new home financing solution for UAE residents.
This innovative financing plan allows buyers to secure funding for off-plan properties once construction reaches 35% completion, making DAMAC the first developer in the UAE to offer such an option.
DAMAC and ADIB partnership
This new initiative marks a significant step in making homeownership more accessible to a broader range of buyers, offering more flexibility in the luxury real estate market. By offering this financing solution, DAMAC and ADIB are continuing to provide customer-centric options that simplify the process of investing in premium real estate.
Amira Sajwani, Managing Director of Sales & Development at DAMAC Properties, highlighted the importance of the new offering, stating, “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.”
Sajwani added, “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.”
‘Innovative home financing solutions’
ADIB also expressed its enthusiasm for the partnership, with Elie Hayek, Head of Home Finance at ADIB, noting, “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.”
As the UAE’s property market continues to thrive, this flexible financing plan comes at a time when buyer confidence is at an all-time high. DAMAC’s move to offer financing at 35% completion ensures that premium real estate investments remain accessible to a larger pool of buyers, reinforcing its position as a leader in innovative real estate financing.
tanvir@dubainewsweek.com
