One of UAE’s leading property developers, Aldar properities, is offering a new rent-to-own scheme in a select number of its units.
The scheme allows customers to build equity in their homes over one, two or three years in the ready-to-move-in units in Ansam, Al Hadeel and Meera communities, said Aldar properities in a statement.
Customers will be able to exercise the rent-to-own option each year with no rent escalations or fees, while building up equity positions of 16%, 19% and 22% over the first, second and third year respectively.
Aldar properities will also offer a rebate to customers when they use the ownership option.
Rents start at 120,000 dirhams (€29.69 thousand) per year in Ansam, 140,000 dirhams in Al Hadeel, and 110,000 dirhams in Meera, Aldar said.
Executive Director – Commercial at Aldar, Maan Al Awlaqi, said: “We wanted to create an accessible solution where customers can build equity in their homes in as little time as possible, while living in and enjoying their community.”
“This is particularly important to those who want to own a home but are not in a position to handle the large down payments that are usually required,” added Al Awlaqi.