Aldar completes first off-plan mortgage under new ADREC framework

Aldar has become the first developer in Abu Dhabi to complete mortgage financing on an off-plan property for its customers through Abu Dhabi Real Estate Centre’s (ADREC) newly launched framework that enables the financing bank to be formally named on the mortgage registration certificate before property handover.

The framework allows a customer who has paid 50 percent of the purchase price to arrange a mortgage against their off-plan property, with the bank funding the remaining installments and the final handover payment.

This gives customers certainty over their financing terms in advance, preserves liquidity throughout the construction period, and removes the need to arrange a mortgage at completion. It provides an alternative to traditional financing arranged at handover, giving customers a wider range of financing options and greater choice over rates and terms.