Aldar and ADCB Complete Abu Dhabi’s First Off-Plan Mortgage Under New ADREC Framework

Aldar has completed Abu Dhabi’s first mortgage financing transaction on an off-plan property under a newly launched framework from the Abu Dhabi Real Estate Centre, or ADREC.

The framework allows the financing bank to be formally named on the mortgage registration certificate before the property is handed over. Customers who have paid 50% of the purchase price can arrange a mortgage against the property, with the bank funding the remaining installments and the final payment due at handover.

That structure gives buyers certainty over their financing terms during the construction period. It also helps preserve liquidity and removes the need to arrange a mortgage only when the property reaches completion.

The arrangement offers an alternative to traditional financing secured at handover, giving customers more choice over rates and terms. Aldar’s first registration with Abu Dhabi Commercial Bank establishes a new precedent for the Abu Dhabi market.