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Tue 26 Nov 2019 02:14 PM

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Abu Dhabi's Aldar launches new rent to own scheme

Enrolled customers can build equity in their homes over 1-3 years with no rent escalations or fees

Abu Dhabi's Aldar launches new rent to own scheme

Aldar Properties is launching a new rent to own scheme that offers customers the ability to build equity in their homes over one, two or three years, in a select number of units across Aldar’s Ansam, Al Hadeel and Meera communities.

Aldar said customers will be able to exercise the rent to own option each year with no rent escalations or fees while building equity. It added that customers will build up equity positions of 16 percent, 19 percent and 22 percent over years 1,2, and 3. Aldar is also offering a rebate to customers when they exercise the ownership option.

Rental rates start at AED120,000 per year in Ansam, from AED140,000 per year in Al Hadeel, and from AED110,000 in Meera,

Maan Al Awlaqi, executive director – Commercial at Aldar said the scheme allowing for easier access onto the property ladder.

“We wanted to create an accessible solution where customers can build equity in their homes in as little time as possible, while living in and enjoying their community. This is particularly important to those who want to own a home but are not in a position to handle the large down payments that are usually required.”

Ansam is located on the west side of Yas Island, comprising 12 low rise apartment buildings with a collection of studios and 1-3 bedroom apartments, alongside garden style public areas overlooking the Yas Links Golf Course.

Al Hadeel sits on the seafront of Al Raha Beach, with studios, 1-3 bedroom apartments and larger 3-5 bedroom townhouses and duplexes.

Meera, located on Reem Island, is two symmetrical towers with a range of 1-3 bedroom apartments.

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