Binghatti and ADIB to bring Sharia-compliant home finance solutions to the UAE real estate market
The MoU allows the two parties to detail an agreement that will make it easier for homeowners to secure home financing solutions once construction of a project reaches 35% completion.
Commenting on the MoU, Engr. Katranalda BinGhatti, Chief Executive Officer, Binghatti, said: 'This innovative Islamic financing solution is a game changer for our industry and will continue to support the growth of off-plan sales and the sustainability of the real estate market. We expect to be able to offer our growing customer base a lower threshold to access financing across our projects under development in Dubai and a way to benefit from market appreciation. We have a strong relationship with ADIB over many years and are delighted to be working together to support the evolution of home financing.'
Commenting on the MoU, Mohamed Abdelbary, Group Chief Executive Officer at ADIB, said: 'ADIB continues to play a pivotal role in expanding access to home financing in the UAE, empowering more individuals and families to take their first step into being property owners. This partnership with Binghatti reflects our shared vision of enabling homeownership by providing innovative Sharia-compliant solutions. Together, we aim to deepen the real estate financing market in the UAE by unlocking greater affordability and financial inclusion.'
Binghatti currently has 18,600 units under development across 23 projects in prime residential areas across the City, including Downtown, Business Bay, Jumeirah Village Circle, Al Jaddaf, Dubai Science Park, Dubai Production City and Sports City. Binghatti was proud to launch its latest 1,600-unit project, Binghatti Aquarise, in early May at a star-studded event at the Coca-Cola Arena with nearly 12,000 people in attendance.
Binghatti has a strong record of on-time unit delivery supported by its in-house vertically integrated business model, comprising design, build and materials sourcing. In 2024, Binghatti saw sales of AED 11.6 billion, a 161% year-on-year increase, driven by 16 successful project launches and the timely delivery of 3,700 units. Collaborations with renowned global luxury brands like Mercedes-Benz, Bugatti, and Jacob & Co., as well as prestigious clientele including football star Neymar Junior and renowned musician Andrea Bocelli, further elevated the company's market position. Binghatti's recent strategic acquisition of over 13 million sqft of prime land, with a development value exceeding AED 26 billion, underscores its ambitious future growth plans.
For more information, please contact:
Mahmoud Kassem
Brunswick
mkassem@brunswickgroup.com
Lamia Khaled Hariz
Head of Public Affairs
ADIB
Simon Hailes
Director of Financial Communications
Edelman
About Binghatti Holding Ltd.:
Binghatti Holding Ltd. is a renowned Emirati brand in the real estate development sector, holding a leading position with a portfolio exceeding 80 projects valued at over AED45 billion. Binghatti Holding is led by Chairman Muhammad BinGhatti, whose innovative vision aims to deliver luxurious projects that reflect refined artistic taste and high standards in design and quality.
Binghatti Holding has successfully delivered over 11,000 residential units in the past 16 months, achieving remarkable milestones in collaboration with global brands such as Bugatti, Mercedes-Benz, and Jacob & Co. Binghatti Holding continues to expand its real estate portfolio to meet the growing market demands, focusing on delivering residential projects that elevate the level of luxury in Dubai.
About ADIB:
ADIB is a leading bank in the UAE with AED 244 billion in assets. The bank also offers world-class online, mobile and phone banking services, providing clients with seamless digital access to their accounts 24 hours a day.
ADIB provides Retail, Corporate, Business, Private Banking and Wealth Management Solutions. The bank was established in 1997 and its shares are traded on the Abu Dhabi Securities Exchange (ADX).
ADIB has a strong presence in five strategic markets: Egypt, where it has 72 branches, the United Kingdom, Qatar, and Iraq.
Named World's Best Islamic Bank by The Financial Times - The Banker publication, ADIB has a rich track record of innovation, including introducing the award-winning Ghina savings account, award-winning co-branded cards with Emirates airlines, Etihad and Etisalat and a wide range of financing products.
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