Dubai Property Developers Emaar Launch New Payment Scheme

 

The Dubai based property developers Emaar have launched two new initiatives aimed at easing the financing of their properties. The new 'To Own' scheme's, which are to be split into two core elements named the 'Plan to own' and the 'Plan to buy.'

 

The 'Rent to own' scheme allows a purchaser to adjust the entire first years rental payments to home finance if they decide to purchase the property after the initial period. 

 

The second initiative, 'Plan to own,' will see the developer providing 25% of the initial property funding, which will be paid back over a period of five years following the handover of the property. The 'Plan to own' scheme is aimed at bridging what Emaar sees as a growing gap created between existing property prices and the decreasing loan to value ratios currently being offered by the major Dubai banks.

 

The new scheme's from Emaar will undoubtedly be welcomed by people looking to buy a property in Dubai, and it is likely that other major developers will follow suit with similar initiatives.