Majid Al Futtaim, Emirates NBD launch off-plan mortgage financing

Dubai, UAE: Majid Al Futtaim has signed a Memorandum of Understanding (MoU) with Emirates NBD, marking a major shift in how homebuyers can finance residential purchases across the company’s developments. The agreement will enable customers to secure mortgage financing during the off-plan stage, a first for Majid Al Futtaim’s real estate portfolio.

Under the MoU, buyers who have completed 50 percent of their property payments will be eligible to apply for mortgage solutions from Emirates NBD. Financing will be available to both UAE nationals and residents who meet the bank’s standard income and credit requirements. The offering includes competitive interest rates and repayment terms of up to 25 years.

The new option also consolidates remaining payment obligations with a single banking partner, giving buyers a more streamlined and transparent financial pathway from purchase to handover.

A new chapter for Dubai’s off-plan financing landscape

Majid Al Futtaim noted that the partnership addresses a long-standing gap in the market: the ability for buyers to secure traditional mortgage financing before project completion while still benefiting from off-plan pricing.

Ahmed El Shamy, Chief Executive Officer of Majid Al Futtaim Development, said: “Buying a home is one of the biggest decisions people will make, and financial clarity plays a huge role in that. Working with Emirates NBD gives our customers an option that feels both familiar and flexible, especially for those who want the stability of a mortgage before handover. As the market evolves, people are looking for financing pathways that fit their long-term plans.”

He added that the initiative will be scaled across future developments as demand for structured, mortgage-friendly payment models continues to rise.

Strengthening market confidence

For Emirates NBD, the collaboration aligns with its broader strategy to support responsible homeownership and enhance confidence in Dubai’s residential market.

Rohit Garg, Group Head of Retail Products and RBWM Chief Digital Officer at Emirates NBD, said: “Dubai’s property market continues to attract a diverse buyer base, with a growing preference for more structured payment arrangements. By working closely with Majid Al Futtaim, we are offering a financing route that gives buyers room to plan ahead while still benefiting from the value of off-plan opportunities.”

He emphasized the bank’s commitment to delivering accessible home financing solutions across the UAE.

Expanding access for first-time and long-term buyers

The introduction of off-plan mortgage availability is expected to reshape buyer behaviour, particularly among first-time homeowners who may have previously viewed off-plan purchases as financially restrictive. Existing buyers now also gain greater clarity over long-term payment commitments, potentially accelerating decision-making and reducing uncertainty.

Both organisations view the MoU as the foundation for a longer-term financing strategy that will be rolled out across Majid Al Futtaim’s residential communities. The initiative supports the company’s vision of building accessible, sustainable neighbourhoods while reinforcing Dubai’s position as a market built on transparency, confidence and future-ready investment models.