Finance

ADIB presents first-ever plot finance services in response to rising demand for land possession

Abu Dhabi, UAE: Abu Dhabi Islamic Financial institution (ADIB), a number one monetary establishment, introduced at present the launch of their first-ever plot financing providing, enabling clients to buy a chunk of land for the aim of funding or to fulfil their homeownership objectives. The provide, out there to each residents and non-residents, permits consumers to buy property or make plot handover funds to personal freehold residential plots at famend residential communities.

The brand new providing is available in response to the rising curiosity in land purchases amongst nationals and residents alike. With property and land costs rising within the UAE since final 12 months, persons are more and more trying to buy land as an asset or as a means of constructing their very own property.

Consumers can anticipate financing of as much as 60% of the land plot worth, with waiver of early settlement prices as much as 30% of excellent finance every year.

Sameh Awadallah, Performing International Head of Retail Banking, stated: “Through the years, ADIB has launched many progressive financing choices which were well-received by our clients. With greater than 1 million clients banking with us, we now have been in a position to leverage on our buyer insights to carry new choices that proceed to assist our clients. With the numerous improve in individuals asking about buying property or shopping for their very own land throughout the UAE, we determined to design a product that allowed each residents and UAE nationals to finance their lands.”

ADIB Plot Finance is at present out there for choose developments, together with Al Dar Properties and Emaar Properties, and options enticing low revenue charges.

About ADIB 

ADIB is a number one Islamic financial institution with greater than AED 133 billion in belongings that was established in 1997 with its shares traded on the Abu Dhabi Securities Trade (ADX). Over 1 million clients profit from its massive distribution community of 70 branches and greater than 500 ATMs. The financial institution additionally presents world-class on-line, cell and cellphone banking providers, offering purchasers with seamless digital entry to their accounts 24 hours a day. ADIB gives retail, company, enterprise, non-public banking and wealth administration options. ADIB stays one of many main banks within the recruitment, growth and promotion of native expertise. The financial institution has one of many highest Emiratisation ratios with greater than 40 % of the financial institution’s workforce being UAE Nationals. ADIB has presence in six strategic markets: Egypt, the place it has 70 branches, the Kingdom of Saudi Arabia, the UK, Sudan, Iraq and Qatar. 

Named “Finest Islamic Financial institution globally” by The Monetary Occasions’ The Banker publication and Finest Financial institution within the UAE by Forbes, ADIB has a wealthy observe file of innovation, together with introducing the world’s first digital Islamic financial institution for youth and being the primary financial institution within the UAE to allow account opening via facial recognition.  

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