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Abu Dhabi off plan mortgage under the new ADREC framework

Abu Dhabi Records First Off-Plan Mortgage Under New ADREC Framework

Abu Dhabi has taken a significant step in real estate financing. Aldar completed the emirate’s first mortgage registration for an off-plan property under a new framework from the Abu Dhabi Real Estate Centre (ADREC). The transaction involved Abu Dhabi Commercial Bank (ADCB). It allows an eligible buyer who has already paid 50% of the property’s purchase price to arrange an Abu Dhabi off plan...