Abu Dhabi, UAE – Abu Dhabi Commercial Bank has launched innovative solutions that enable customers to obtain initial approval. To finance up to 50% of the value of residential properties under construction at leading real estate developers in the UAE. This embodies the bank’s pivotal role in enabling individuals and investors to achieve their aspirations and contribute effectively to the growth of the real estate market.
By enabling clients to confirm their eligibility for financing from the early stages of project development, they can plan and make informed decisions. With a higher level of clarity to purchase properties under construction at an early stage.
Initial approval of financing also has a validity of up to 12 months. With the possibility of renewing it annually until the property delivery date.
The bank then provides solutions to activate financing facilities at competitive prices, supporting its customers in achieving their ownership plans.
The main advantages of the bank step
- Initial approval for residential financing for properties under construction
- The validity of the initial approval extends to 12 months, with the possibility of renewing it annually until delivery
- Financing up to 50% of the property value for eligible clients
- A smooth transition from initial approval to final approval and financing upon payment of 50% of the property value or upon delivery
- Exemption from administrative fees
- Exemption from property evaluation fees
- Competitive interest rates / profit rates starting from 3.49% per annum fixed for three years
- Available to finance properties under construction from leading real estate developers in the UAE
