Aldar completes Abu Dhabi’s first off-plan property in Abu Dhabi under ADREC’s new framework

Aldar becomes the first in Abu Dhabi to complete mortgage financing on an off-plan property for its customers. This achievement is a result of Abu Dhabi Real Estate Centre’s (ADREC) newly introduced framework, which empowers the financing bank to officially be named on the mortgage registration certificate before the property is handed over. The framework offers customers a convenient solution. If they have already paid 50% of the purchase price, they can conveniently arrange a mortgage against their off-plan property. The bank will then provide the necessary funding for the remaining installments and the final handover payment. This innovative approach…