Leading Emirati developer Modon has signed an agreement with Abu Dhabi Islamic Bank (ADIB) to introduce the first-of-its-kind home financing solution in the UAE capital for off-plan property purchases.
For the first time in the emirate, eligible homebuyers will be able to access up to 75% off-plan home financing through ADIB.
Available exclusively for future Modon developments, the innovative solution enables customers to secure homes earlier in the development cycle through a more seamless purchasing journey, marking a significant milestone in the evolution of Abu Dhabi’s real estate market.
Under the offering, customers can secure an off-plan property through a structured payment plan comprising a 15% payment plan during the construction phase and a further 5 to 10% payment upon handover, said the developer.
The MoU was signed during an official ceremony attended by Bill O’Regan, Group CEO of Modon Holding, Ibrahim Al Maghribi, CEO of Modon Real Estate, and Mohamed Abdelbary, Group CEO at ADIB.
As per the deal, ADIB will finance up to 75% of the property’s value subject to customers’ eligibility during off plan and construction, providing customers with access to funding throughout their homeownership journey.
“Abu Dhabi continues to strengthen its position as one of the world’s most attractive destinations for investment and long-term growth, creating high demand for new real estate launches,” noted Bill O’Regan.
“Modon’s off-plan financing solution with ADIB will give more buyers access to these opportunities, reflecting the market’s ongoing transformation and supporting broader efforts to enhance global competitiveness. Together, we are helping create the conditions that enable sustainable sector growth while further reinforcing investor confidence,” he stated.
Abdelbary said: “As Abu Dhabi's real estate market continues to create compelling opportunities and attract strong demand, it is important that financing solutions evolve alongside it. Through our partnership with Modon, ADIB is introducing a first-of-its-kind offering in Abu Dhabi that transforms the home-buying experience by providing financing throughout the property development journey.”
“By enabling eligible customers to finance up to 75% of a property's value during construction and through to handover, we are making homeownership more accessible while supporting the continued development of Abu Dhabi's real estate market,” he noted.
Al Maghribi said: “At Modon, innovation extends beyond the communities we create to how we make homeownership more accessible. Our partnership with ADIB represents a significant step forward in redefining off-plan home financing by introducing a game-changing financing solution marks a new chapter for Abu Dhabi’s real estate market.”
“By unlocking easier access to Modon’s future developments, it expands opportunities for eligible buyers and enhances market accessibility,” he added.-TradeArabia News Service
