A group of banks operating in the UAE has announced the launch of flexible financing programs aimed at citizens and residents to support the purchase of off-plan properties that have reached construction completion rates between 35% and 50%. This move comes as part of strategic partnerships with local real estate developers.
Regarding efforts to stimulate demand for mortgage financing, bankers and real estate specialists indicated that these initiatives are a response to growing demand in the property market.
They are primarily intended to support individuals seeking to own residential units in Abu Dhabi, as well as to accelerate the completion of citizens’ housing projects, ensuring comprehensive housing solutions.
On the other hand, experts confirmed that mortgage financing recorded growth ranging between 10% and 15% over the past year through the beginning of the current year. This growth is attributed to the diversity of projects offering units in various sizes that align with the needs of families and investors.
With population numbers increasing and demand continuing to rise amid a limited supply of real estate units, experts anticipate further growth in the property market this year.
