DIB, the largest Islamic bank in the UAE, has teamed up with Expo City Dubai to offer eligible buyers home financing for properties under construction within the master-planned community.
The agreement supports the bank's push to widen its home finance offering through partnerships with leading developers and government-related entities across the country.
Expo City Dubai builds on the legacy of Expo 2020 Dubai, the first World Expo held in the Middle East, Africa and South Asia. It is now evolving into a sustainable urban community that brings together residential, commercial and cultural developments.
Under the terms, DIB can finance up to 50 percent of a property's value once an approved project reaches at least 35 percent construction completion and the buyer has paid at least half the purchase price. Financing runs for up to 25 years, subject to eligibility, credit, regulatory and final approval requirements. Full monthly instalments begin at handover or within 24 months of taking the finance, whichever comes first. During construction, buyers pay only the profit amount.
The offer is open to eligible UAE nationals, residents and non-residents, and it does not require a salary transfer.
Sanjay Malhotra, Chief Consumer Banking Officer at DIB, said the partnership brings tailored financing to one of Dubai's most strategically located destinations at a time of growing demand for off-plan homes.
"The value of the proposition is simple: earlier clarity on one of the biggest financial commitments a customer will make,"
he said.
Ahmed Al Khatib, Chief Development and Delivery Officer at Expo City Dubai, said the collaboration will give buyers a smoother route to ownership. He added that DIB's Shariah-compliant solutions will help more investors join the community, reflecting confidence in Expo City's long-term vision and Dubai's real estate market.
News Source: Emirates News Agency
