Dubai:Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has formed a strategic partnership with Expo City Dubai to provide home financing options to eligible buyers for properties under construction within the development.

According to Emirates News Agency, this agreement aligns with DIB's strategy to enhance its home finance offerings through collaborations with leading developers and government-related entities across the UAE. The partnership is significant as it involves one of Dubai's unique developments, Expo City Dubai, which is evolving into a sustainable urban community.

DIB will offer financing for up to 50% of a property's value once a project has reached at least 35% construction completion and the customer has paid at least 50% of the purchase price. Financing is available for up to 25 years, subject to meeting DIB's eligibility, credit, and regulatory requirements. Eligible UAE nationals, residents, and non-residents can access these financing options without the need for salary transfer.

Sanjay Malhotra, Chief Consumer Banking Officer at DIB, emphasized that Expo City Dubai is a key chapter in Dubai's urban development. He highlighted that the partnership will provide DIB customers with tailored financing solutions, making homeownership in this strategically located destination more accessible. Buyers can arrange financing during construction, pay only the profit amount during this period, and transition to full instalments at handover or within 24 months.

Ahmed Al Khatib, Chief Development and Delivery Officer at Expo City Dubai, remarked that the partnership with DIB enhances the ability to offer buyers a seamless journey to homeownership. The collaboration reflects trust in Expo City's long-term vision and confidence in Dubai's real estate market.