This new initiative is scheduled to revolutionize how UAE residents invest in off-plan properties, making luxury life more accessible than ever.
The standout feature of this new financing option is that it allows buyers to secure funds for off-plan properties, when construction occurs after 35% completion. It is an important departure from the traditional financing model and the UAE has the position of Damac as the first developer in the UAE to offer such a flexible solution.
Pros of ADIB Partnership
- Increased access: By reducing the obstruction of entry, more UAE residents and investors can now consider purchasing luxury properties.
- Market praise benefits: Buyers can benefit from the capital appreciation of the market during the construction phase, as they can secure first properties in the development process.
- Aligning with market: As the UAE Property Market experiences a significant growth, it reacts to the initiative to develop the growing buyer’s confidence and investors’ needs.
This partnership between Damac Properties and ADIB shows a commitment to customer-centric solutions. Amira Sajwani, the managing director of sales and development in the Damac Properties, stressed the nature of this partnership. She said that it would “make luxury even more accessible and set a new standard for financial flexibility in real estate investment in the UAE.”
Eli Hayek, the head of Home Finance at ADIB strengthened the spirit, highlighted their dedication to provide innovative, Sharia-influenced financing options that empower investors and contribute to developing the real estate market.
This initiative occurs when the UAE’s property market is experiencing an important deepening. By introducing more flexible financing options, Damac is not only making the acquisition of home more attainable, but also stimulating further growth in the real estate sector.
As expected to increase property values, this new financing model ensures that a comprehensive pool of buyers can reach premium real estate investments. It is a strategic move that can further the status of cement Damac as a new benchmark in real estate finance and a market leader.
