Residents, As Well As Non-Residents, May Take Advantage of the Offer
The first-ever sale for financing plots has been launched, as per the Abu Dhabi Islamic Bank (ADIB). Customers can use the scheme to buy a plot of land as an investment or to reach their homeownership desires. In response to “growing demand” in land purchases from both nationals and locals, a fresh offering has been made.
Since last year, land and property prices in the UAE have increased, and more people are looking to buy land as an investment or as a way to construct their own homes. With a waiver of advance reimbursement and costs of up to 30 percent of the outstanding debt each year, buyers can anticipate financing of up to 60 % of the land plot value. “Over the years, ADIB has developed various cutting-edge financing options that have been well-received by our consumers,” said Sameh Awadallah, acting global head of retail banking.
We have more than a million clients that bank with us, and we have been enabled to use their insights to introduce new solutions that help them. We made the decision to create a product that enables both locals and UAE citizens to finance their lands. Because of the sharp increase in inquiries about buying real estate or owning a piece of land in the UAE. Al Dar Properties & Emaar Properties are two recent examples of developments. That can take advantage of the very low-profit rates offered by ADIB Plot Finance.