In a groundbreaking move, DAMAC Properties and Abu Dhabi Islamic Bank (ADIB) have joined forces to revolutionize the real estate market in the UAE. Their latest initiative introduces a financial solution that allows residents to secure funding for off-plan properties once project completion hits the 35% mark.
DAMAC Properties and Abu Dhabi Islamic Bank (ADIB) are making waves in the UAE property sector by offering a distinctive home financing solution. This collaboration enables UAE residents to access financing for off-plan properties when construction reaches 35% completion. The innovative approach aims to make property ownership more attainable and flexible for property enthusiasts in the United Arab Emirates.
Amira Sajwani, the Managing Director of Sales and Development at DAMAC, describes this collaboration as a milestone that significantly impacts residents and investors. “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,” she asserts. Sajwani highlights the company’s dedication to making homeownership a reality for many, elevating the standard for financial flexibility in real estate investments within the region.
Elie Hayek, Head of Home Finance at ADIB, echoes this sentiment, emphasizing ADIB’s commitment to supporting the real estate market with pioneering home financing solutions. “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,” he states.
This partnership is unprecedented in its potential to reshape the financial landscape for property investors in the UAE. By incorporating such accessible financing methods, investors can pursue property ventures without the burden of financial constraints. The real estate sector in the UAE is thus poised to evolve, aligning with the diverse needs of modern investors.
The partnership between DAMAC and ADIB stands as a pivotal development in UAE’s real estate market, introducing a much-needed layer of flexibility and accessibility. This is a significant stride towards making property ownership more attainable and fostering investor confidence.
