In A First, DAMAC Properties To Offer Financing For Off-Plan Properties In The UAE

In a significant move to make luxury living more attainable, DAMAC Properties has joined forces with Abu Dhabi Islamic Bank PJSC (ADIB) to unveil a home financing scheme. This initiative allows UAE residents to obtain financing for off-plan properties as soon as construction is 35% complete, marking DAMAC as the first developer to implement such an offering.

This innovative financing solution is set to transform the way residents and investors in the UAE approach homeownership. By lowering the entry barrier to luxury property investments, this scheme opens up new avenues for potential buyers to secure their dream homes while capitalising on market growth.

“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,” stated Amira Sajwani, Managing Director of Sales & Development at DAMAC Properties.

As the UAE's property market experiences a notable upswing, with buyer confidence at an all-time high, DAMAC's initiative is timely. It caters to the evolving needs of investors and ensures that premium property investments remain within reach for a broader audience. Through this strategy, DAMAC reaffirms its commitment to providing investor-friendly solutions and establishing new benchmarks in real estate financing.

“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,” said Elie Hayek, Head of Home Finance at ADIB.

The partnership between DAMAC Properties and ADIB represents a significant leap forward in making homeownership more feasible for UAE residents. By introducing a flexible financing option for off-plan properties, this initiative not only facilitates access to luxury real estate but also reflects a broader commitment to enhancing the financial flexibility and investment appeal of the UAE's property market.