Dubai Islamic Bank (DIB), the UAE’s largest Islamic bank, has partnered with Expo City Dubai to provide home financing for eligible buyers purchasing properties under construction within the development.
The strategic partnership is part of DIB’s efforts to expand its Home Finance proposition through collaborations with leading developers and government-related entities across the UAE.
Under the arrangement, eligible buyers can access financing once a DIB-approved project reaches at least 35 per cent construction completion and the customer has paid at least 50 per cent of the purchase price.
DIB can then finance up to 50 per cent of the property value, subject to its eligibility, credit, regulatory and final approval requirements.
Financing Available For Up To 25 Years
The financing is available to eligible UAE nationals, residents and non-residents and does not require salary transfer.
Customers will begin full monthly instalments at handover or within 24 months of taking the finance, whichever comes first.
The financing tenure can extend for up to 25 years, while customers pay only the profit amount during the construction period.
Sanjay Malhotra, Chief Consumer Banking Officer at DIB, said the partnership would make homeownership at Expo City Dubai more accessible as demand for off-plan properties grows.
He said the arrangement gives eligible buyers the opportunity to arrange financing during construction while providing greater clarity over their financial commitment.
Expo City Dubai Expands Residential Offering
Expo City Dubai is developing as a master-planned urban community built around the legacy of Expo 2020 Dubai, the first World Expo held in the Middle East, Africa and South Asia.
The development includes residential, commercial and cultural projects and is positioned as part of Dubai’s long-term urban growth.
Ahmed Al Khatib, Chief Development and Delivery Officer at Expo City Dubai, said the partnership with DIB would support a smoother homeownership process for buyers.
He added that DIB’s Shariah-compliant financing could enable more investors to join the Expo City Dubai community.
