Dubai developer, Binghatti Holding has signed a Memorandum of Understanding (MoU) with Abu Dhabi Islamic Bank (ADIB) aimed at expanding its customer base and enhancing accessibility to its property offerings.
The collaboration will enable Binghatti to offer Sharia-compliant home financing solutions to prospective buyers, including support for off-plan property purchases, further aligning with the region’s demand for Islamic finance products and affordable homeownership options.
The MoU allows the two parties to detail an agreement that will make it easier for homeowners to secure home financing solutions once the construction of a project reaches 35 percent completion.
“ADIB continues to play a pivotal role in expanding access to home financing in the UAE, empowering more individuals and families to take their first step into being property owners. This partnership with Dubai developer reflects our shared vision of enabling homeownership by providing innovative Sharia-compliant solutions. Together, we aim to deepen the real estate financing market in the UAE by unlocking greater affordability and financial inclusion.”
Commenting on the MoU, Engr. Katranalda BinGhatti, Chief Executive Officer, Binghatti, said that, “This innovative Islamic financing solution is a game changer for our industry and will continue to support the growth of off-plan sales and the sustainability of the real estate market.”
“We expect to be able to offer our growing customer base a lower threshold to access financing across our projects under development in Dubai and a way to benefit from market appreciation. We have a strong relationship with ADIB over many years and are delighted to be working together to support the evolution of home financing,” Eng. BinGhatti added.
