Advertisement
What really powers the cloud? Behind every Google search, A...
A lot of what defines a home isn’t visible at handover. I...
Private equity has played a significant role in shaping Indi...
Luxury real estate is one of the most talked-about segments ...
Airports play a much bigger role than just enabling travel -...
Modon Holding and ADIB have introduced Abu Dhabi’s first off-plan home financing solution, allowing eligible buyers to secure financing of up to 75% for off-plan residential properties. The financing option will initially be available only for future Modon developments. Under the payment structure, buyers will pay 15% during the construction phase, while the remaining 5–10% will be payable at the time of handover. The initiative is aimed at improving access to home financing and supporting homebuyers purchasing under-construction properties in Abu Dhabi.
Modon Holding has partnered with ADIB to introduce Abu Dhabi's first off-plan home financing solution, offering a new financing option for buyers looking to purchase under-construction residential properties.
Under the newly launched programme, eligible homebuyers will be able to obtain financing of up to 75% of the value of an off-plan home through ADIB. The financing solution has been introduced to provide buyers with greater financial flexibility while purchasing homes before project completion.
The financing programme will initially be available exclusively for future residential developments by Modon. The company said the offering is designed specifically for upcoming projects and will not apply to developments outside its portfolio.
As part of the payment structure, buyers will be required to make a 15% payment during the construction phase. A further 5% to 10% payment will be due at the time of handover, with the remaining amount financed under the agreed terms.
The launch marks the first dedicated off-plan home financing solution of its kind in Abu Dhabi. Traditionally, financing options for off-plan properties have been more limited than those available for completed homes, making buyers more dependent on developer-led payment plans. The new arrangement is expected to provide an additional financing route through a banking partner for eligible purchasers.
The initiative also reflects the continued collaboration between developers and financial institutions in the UAE to expand home financing options as demand for residential properties continues to grow, particularly in the off-plan segment.
Source Reuters
Advertisement
Facebook
Whatsapp
