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Arada joins with DIB to provide home financing solutions

UAE - August 5, 2019

Arada, a Sharjah-based real estate developer, has announced a partnership with Dubai Islamic Bank, DIB, to streamline the homeownership process for buyers of Arada properties.

The company confirmed that it has sold over 4,000 units in its two projects, Aljada and Nasma Residences, in the past two years. Sheikh Sultan bin Ahmed Al Qasimi, Chairman of Arada said that so far, 2019 has resulted in their two best sales months, which they have achieved by improving the integration of teams within Arada, and also the desirable investment products that we have recently released to the market.

This new partnership with the DIB represents yet another way in which they are making every effort to make the lives of their buyers easier and more efficient. They look forward to working closely with their partners, as they accelerate the delivery process for their homes, he added. Further, Varun Sood, Chief of Home Finance at the DIB, said, as one of the most experienced and capable Sharia-compliant lenders in the region, they have considerable expertise when it comes to providing transparent and efficient home financing solutions. They look forward to ensuring that Arada property buyers can benefit from their proficiency in this area, as they prepare to move into their new homes.

The home financing partnership with DIB will allow property buyers to access highly competitive mortgage rates and exclusive flexible payment plans, as well as rapid and easy processing without the need for a salary transfer. In addition, the lender is also opening a kiosk at the Arada sales centre in Sharjah and has appointed a dedicated relationship manager to handle queries from buyers.

Arada has started handing over its first-ever units in Nasma Residences, scheduled for completion by the end of the second quarter of 2020.

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