RAK Bank inks finance deal with Dubai Properties
The bank will offer affordable and conventional as well as Sharia-compliant home finance solutions at competitive rates
RAK Bank has partnered with Dubai Properties to provide convenient home finance solutions for a selection of complete and off-plan properties in the developer's portfolio of projects.
Under the partnership, the bank extends home finance for off-plan properties such as Mudon and completed projects including JBR, Executive Towers, Bay Square, The Villa and Remraam.
The bank will offer affordable and conventional as well as Sharia-compliant home finance solutions through Amal program at competitive rates to UAE nationals and expatriates, non-residents, and GCC nationals.
The bank will not require a salary transfer from customers and is committed to minimum formalities and a fast approval process.
Ian Hodges, head of retail banking at RAK Bank, said: “As a prominent bank in the retail space, we are always looking to bring our valued customers added choice and convenience to their banking relationship. Our partnership with Dubai Properties Group gives us the opportunity to support our customers who wish to finance property in prime locations in the UAE.”
Abdulla Abushabieb, senior executive director, customer care and government relations, Dubai Properties said: "Our partnership with RAKBANK reflects Dubai Properties’ commitment to meeting the needs of the customers interested in home ownership in Dubai. Judging by the significant response to the launches of our new communities, we expect the high demand for high-quality and affordable homes in well located residential communities to continue. This partnership with RAKBANK will enable us to offer our customers a flexible range of home financing solutions that suit their individual needs and help them invest in their own future."