Damac signs deal to make home ownership easier for UAE residents

Post by: Pratik Kumar

Damac Properties, a big real estate company in the UAE, has joined hands with Abu Dhabi Islamic Bank (ADIB) to offer a new home loan option. This plan allows UAE residents to get a loan for an off-plan home when 35% of the construction is done. This makes Damac the first developer in the UAE to offer such a plan, making it easier for people to buy homes.

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Damac and ADIB want to help buyers by offering simple and helpful financial plans. This new idea will help more people invest in good properties and benefit from rising property prices.

As the real estate market in the UAE is growing fast, this plan is useful for buyers. It allows them to book homes at good locations while also getting financial support at the right time. Property prices are expected to rise, and with this option, more people can own homes without worrying about paying everything at once.

Amira Sajwani, Managing Director of Sales & Development at Damac, said this new step is a big change for the company, buyers, and investors. "This is a great move for Damac and for people in the UAE who want to invest in homes. Working with a trusted bank like ADIB helps us bring better and easier home loan plans to the market," she said.

Damac is known for creating new ideas in real estate, and this plan gives more flexibility to homebuyers. It is made to fit changing market conditions and investor needs. More people are looking for home loans, and this step shows Damac’s promise to help people own homes in the UAE.

Sajwani also said that this plan will help more people buy luxury homes. "We want to make homeownership easy for many residents. We are happy to be the first developer in the UAE to bring this plan, which makes luxury living easier to afford. This also sets a new example for better financial options in real estate," she added.

Elie Hayek, Head of Home Finance at ADIB, also spoke about the partnership. He said ADIB always works on making new home loan plans that help investors and support the UAE’s property market. "At ADIB, we focus on bringing smart home financing solutions that help people buy homes and also grow the real estate sector in the UAE," he said.

He also said that working with Damac shows ADIB’s goal of offering easy and fair home loan options. "Our partnership with Damac is a strong step in this direction. We are happy to offer this unique home loan plan, which follows Sharia rules and gives home buyers a simple way to own property," he added.

Since property prices are increasing and more people want to buy homes, this new plan from Damac and ADIB makes it possible for many buyers to own good homes. With this idea, Damac is setting a new standard in the real estate world, helping more people afford homes in the UAE.

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