Aldar, ADCB complete Abu Dhabi’s first off-plan mortgage under new ADREC framework
Aldar has become the first developer in Abu Dhabi to complete mortgage financing on an off-plan property for its customers through Abu Dhabi Real Estate Centre’s (ADREC) newly launched framework that enables the financing bank to be formally named on the mortgage. Setting a new precedent for the Abu Dhabi market, Aldar has completed the first registration under the new framework, with Abu Dhabi Commercial Bank (ADCB) supporting the.
The framework allows a customer who has paid 50 percent of the purchase price to arrange a mortgage against their off-plan property, with the bank funding the remaining installments and the final handover payment.
By enabling mortgage interests in eligible off-plan real estate units to be recorded in the Initial Real Estate Register, the service strengthens transparency and provides greater clarity and protection for buyers, developers and financial institutions.
- 01Look for availability, pricing, deployment and real-user evidence tied to Aldar, ADCB complete Abu Dhabi’s first off-plan.