Aldar completes Abu Dhabi’s first off-plan mortgage under new ADREC framework

Aldar has become the first developer in Abu Dhabi to complete mortgage financing on an off-plan property under a new framework established by the Abu Dhabi Real Estate Centre (ADREC). Supported by Abu Dhabi Commercial Bank (ADCB), the transaction follows UAE Central Bank regulations requiring customers to have paid 50 percent of the purchase price to qualify for off-plan mortgage financing.

The new framework allows the financing bank to be formally named on the mortgage registration certificate before the property is handed over. This enables banks to fund remaining installments and the final handover payment, providing customers with certainty regarding financing terms and rates well in advance. The system is designed to preserve liquidity during construction and offer alternatives to traditional financing arranged only at completion.

Ghazi Saeed Alateibi, Executive Director of the Real Estate Transaction Sector, stated that recording mortgage interests in the Initial Real Estate Register strengthens transparency and provides greater protection for buyers, developers, and financial institutions. The service is available market-wide to participating institutions that meet the necessary requirements.