The real estate industry in Dubai is still booming, drawing an increasing number of investors. The absence of mortgage choices for off-plan residences, which is common in the UAE where financing is usually restricted to ready homes, has been a recurring issue, though. First-time purchasers have found it challenging to enter the market as a result, which has increased their financial burden.
Through programs including lowered down payments, partial waivers of Dubai Land Department (DLD) fees, and priority booking under the First-Time Home Buyer Program, the Dubai Land Department has recently intervened to facilitate access.
Majid Al Futtaim, the top developer and lifestyle innovator in the area, has inked a Memorandum of Understanding (MoU) with Emirates NBDs to close this vital gap. Buyers in Majid Al Futtaim’s residential portfolio can now obtain mortgage financing at the off-plan phase for the first time, marking a change in the way Dubai homebuyers plan their long-term investments.
Customers can apply for home loans with Emirates NBD under the agreement after making 50% of their property payments. They can take advantage of competitive interest rates, repayment terms of up to 25 years, and eligibility for both UAE nationals and residents who meet standard credit criteria. This configuration consolidates remaining payments under one banking partner, enabling clarity and simplicity as purchasers move toward ownership.
According to Majid Al Futtaim, the collaboration fills a long-standing need for clients looking to make off-plan purchases with the protection of standard mortgages. This strategy reflects the growing demand for stable, bank-backed financing, which is enhanced by Dubai’s incentives, including lower upfront costs, flexible payment plans, and interest-free installment options for registration fees.
Ahmed El Shamy, CEO of Majid Al Futtaim Development, said: “Buying a home is one of life’s biggest decisions, and financial clarity is key. Partnering with Emirates NBD gives our customers a familiar, flexible option—especially for those who want mortgage stability before handover. This step reinforces our commitment to making homeownership accessible and straightforward.”
Rohit Garg, Group Head of Retail Products and RBWM Chief Digital Officer at Emirates NBD, added: “Dubai’s property market attracts a diverse buyer base with a rising preference for structured payment plans. By collaborating with Majid Al Futtaim, we’re enabling buyers to plan ahead while leveraging off-plan opportunities. This partnership aligns with our mission to support sustainable homeownership across the UAE.”
Both organizations see this as the beginning of a more comprehensive financing strategy for Majid Al Futtaim’s projects, boosting market trust and increasing accessibility to high-quality communities.
