FilingsRecord
Aldar records first off-plan mortgage under Abu Dhabi framework
Abu Dhabi Commercial Bank provided financing under ADREC's process for recording mortgages before handover.
First mortgage recorded under ADREC process#
Aldar recorded the first mortgage on an off-plan property in Abu Dhabi under the process introduced by Abu Dhabi Real Estate Centre. Abu Dhabi Commercial Bank acted as the mortgage lender. The mortgage was entered in the Initial Real Estate Register before the property was completed.
ADREC's process permits an eligible mortgage to be entered against an off-plan unit before construction finishes. Sale and purchase agreements, mortgage documentation and formal registration can now occur during the off-plan stage. ADREC stated that the legal basis for entering mortgages against off-plan units existed previously and had been used before. The change is operational rather than legislative.
Eligibility criteria and lender requirements#
The process is available to licensed developers and approved financial institutions meeting the stated conditions. UAE Central Bank regulation requires customers to have paid 50 percent of the property price before qualifying for off-plan mortgage financing. The bank then funds the remaining instalments and the final handover payment.
Lending decisions, eligibility criteria and commercial terms remain with the financing institution. Mortgage rates, income thresholds, financing ratios and repayment schedules vary among banks and borrowers. The process sets out how an approved mortgage is documented and entered once the lender, buyer and eligible developer satisfy the requirements.
Transaction volumes and market application#
Off-plan transactions represented 89 percent of Abu Dhabi's AED 70.4 billion ($19.2 billion) in residential sales value during the first half of 2026. The process creates a registration route for approved lenders and licensed developers without introducing a new mortgage product. Banks are not required to finance particular off-plan projects, buyers or units.
Ghazi Saeed Alateibi, Executive Director of the Real Estate Transaction Sector at ADREC, stated that the completion shows the off-plan mortgage registration service in live market use. The service is available to participating institutions meeting the requirements. Aldar customers can access off-plan financing through Home Finance by Aldar, a mortgage advisory service offered without fees.
Sources2 sources across 2 domains
- economymiddleeast.comEconomy Middle EastFramework details, market statistics showing 89 percent off-plan share and AED 70.4 billion sales value, operational versus legislative nature of change
- meconstructionnews.comME Construction NewsAldar completion as first registration, ADCB as mortgage bank, 50 percent payment requirement, quote from Ghazi Saeed Alateibi
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