Aldar Properties, the biggest listed developer in Abu Dhabi, is launching a rent-to-own scheme to allow customers to build equity in their homes up to three years.
The offer is available at three of its completed developments at Ansam, Al Hadeel and Meera communities, Aldar said on Tuesday.
Aldar customers will be able to exercise the rent-to-own option each year with no rent escalations or fees while building equity.
Customers will build up equity positions of 16 per cent, 19 per cent and 22 per cent over the first, second and the third year.
The developer is also offering a rebate to customers when they exercise the ownership option, it added.
“We wanted to create an accessible solution where customers can build equity in their homes in as little time as possible,” Maan Al Awlaqi, executive director, commercial, at Aldar, said. “This is particularly important to those who want to own a home but are not in a position to handle the large downpayments that are usually required,” he said adding that the launch of this scheme “brings a new dimension to our commitment”.
Ansam is located on the west side of Yas Island, comprising 12 low-rise apartment buildings. Al Hadeel is at Al Raha Beach and Meera, which is on Reem Island, consists of two symmetrical towers each with 204 apartments.