Abu Dhabi's Aldar launches rent-to-own scheme for West Yas homes

Handover on the project, which was built by UAE giant Arabtec Construction, started in late-2018

West Yas by Aldar.
Aldar Properties
West Yas by Aldar.

Abu Dhabi-listed developer Aldar Properties has launched a rent-to-own scheme for select homes in its West Yas residential community on Yas Island in Abu Dhabi.

The scheme, according to an Abu Dhabi Securities Exchange missive, will allow customers to build up home equity over five years while paying $59,894 (AED220,000) in annual rent.

All rent payments will be converted into villa equity at the end of the five year period.

Aldar said the offer was open to a “limited number of homes” at West Yas, which features more than 1,000 four- and five-bedroom villas, ranging from 488-580m2 in size.

Handover of the homes, which are priced starting at $1.2m (AED4.3m), began in late-2018.

Talal Al Dhiyebi, Aldar’s chief executive officer, said the developer was launching the scheme in West Yas to “enable customers to build ownership in their homes over time”, noting a “real demand for  rent to own scheme at communities like West Yas”.

UAE contracting giant Arabtec Construction was awarded a $544.5m (AED2bn) contract from Aldar in January 2016 to build the 1,017-villa project.

Most popular


Deadline approaches for CW Oman Awards 2020 in Muscat
You have until 20 January to submit your nominations for the ninth edition of the


CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this
CW In Focus | Leaders in Construction Summit UAE 2019
A roundup of Construction Week's annual summit that was held in Dubai this September

Latest Issue

Construction Week - Issue 765
Jun 29, 2020