Dubai Holding Real Estate has announced a strategic partnership with Abu Dhabi Commercial Bank (ADCB) to provide mortgage financing solutions for customers looking to purchase units across a number of residential projects by Nakheel, Meraas, and Dubai Properties.
The new partnership offers financing options designed to make the purchase of off-plan properties easier while giving customers greater flexibility in managing their financial commitments throughout the buying process and until the property is handed over.
Financing for Palm Jebel Ali, The Acres, and Nad Al Sheba Gardens
Under the agreement, eligible customers seeking to purchase properties in Nakheel’s Palm Jebel Ali, as well as Meraas’ The Acres and Nad Al Sheba Gardens, can access mortgage financing after paying 50% of the property value to the developer.
This arrangement allows buyers to obtain financing regardless of the project’s completion rate, providing additional flexibility when planning their purchase and arranging financing for the property.
Mortgage Pre-Approvals Valid for Up to 18 Months
The partnership also allows customers to obtain mortgage pre-approvals that remain valid for up to 18 months, helping them understand their financing options at an early stage and make property purchase decisions with greater clarity.
ADCB is also offering a fixed interest rate starting from 3.49% per year for three years, along with waivers on mortgage processing and property valuation fees.
Customers can also complete the onboarding process digitally and benefit from the specialized services available through ADCB’s mortgage centers.
Making the Property Ownership Journey Easier
The partnership between Dubai Holding Real Estate and Abu Dhabi Commercial Bank aims to simplify the property ownership process and provide customers with greater visibility over their financial commitments from the time they purchase a unit until the property is handed over.
The initiative supports the buyer experience by combining a diverse range of residential developments with financing solutions that help customers manage the purchase process with greater flexibility.
Financing Solutions for Other Residential Projects
The financing solutions are not limited to the three named developments, as they also extend to other residential projects by Nakheel, Meraas, and Dubai Properties.
Customers looking to purchase units in these developments may benefit from ADCB’s financing solutions for off-plan properties, subject to the construction progress of each project.
The partnership further expands the options available to buyers in Dubai’s real estate market, particularly as new residential developments continue to be launched to meet the needs of different groups of investors and homebuyers.
The agreement was signed by Khalid Al Malik, Chief Executive Officer of Dubai Holding Real Estate, and Hamad Boodbs, Senior Manager – Government Clients at Abu Dhabi Commercial Bank.
