Damac said it is the first developer to offer such a financing option
Damac Properties Partners with ADIB to Offer Financing for Off-Plan Properties
Dubai-based real estate giant Damac Properties has unveiled a strategic collaboration with Abu Dhabi Islamic Bank (ADIB) to introduce innovative financing solutions for off-plan properties, applicable once construction reaches 35% completion.
In an official announcement, Damac highlighted that it is the first developer to implement such a financing model.
The company further stated: “This financing initiative allows both investors and residents to acquire prime real estate assets while capitalizing on market value appreciation.”
This move comes amid a record-breaking surge in Dubai’s property market, which witnessed over 180,900 transactions in the past year, amounting to AED 522 billion ($142 billion).
Amira Sajwani, Managing Director of Sales and Development at Damac, emphasized that the initiative is designed to enhance accessibility to premium real estate, expanding opportunities for a wider segment of buyers.
In a significant financial milestone, Damac successfully executed its largest sukuk issuance in February, securing $750 million through a 3.5-year senior unsecured trust certificate.
With a fixed annual profit rate of 7%, the sukuk is set to mature on August 26, 2028.
The issuance garnered substantial interest from both regional and international investors.
Earlier in January, Damac entered into a notable agreement with Hong Kong-based Mantra, aiming to tokenize real-world assets (RWA) worth at least $1 billion across the Middle East. This initiative enables fractional ownership and digital trading of real estate and other high-value assets.
Mantra emphasized that its partnership with Damac Group will facilitate token-based financing for a diverse asset range, covering real estate, hospitality, data centers, and other critical sectors.
The initiative is positioned to accelerate RWA adoption through real estate tokenization, addressing conventional investment barriers and broadening access to the Middle Eastern property sector.
According to a recent Property Monitor report, Dubai recorded 14,413 off-plan property sales transactions in January, with Damac contributing 15.8% to the overall market share.
