Abu dhabi: Modon has signed a Memorandum of Understanding (MoU) with Abu Dhabi Islamic Bank (ADIB) to introduce Abu Dhabi's first-of-its-kind home financing solution for off-plan property purchases. For the first time in the emirate, eligible homebuyers will be able to access up to 75% off-plan home financing through ADIB.
According to Emirates News Agency, the innovative solution is available exclusively for future Modon developments. It enables customers to secure homes earlier in the development cycle through a more seamless purchasing journey, marking a significant milestone in the evolution of Abu Dhabi's real estate market. The MoU was signed during an official ceremony attended by Bill O'Regan, Group CEO of Modon Holding, Ibrahim Al Maghribi, CEO of Modon Real Estate, and Mohamed Abdelbary, Group CEO at ADIB.
Under the offering, customers can secure an off-plan property through a structured payment plan comprising a 15% payment plan during the construction phase and a further 5 to 10% payment upon handover. ADIB will finance up to 75% of the property's value subject to customers' eligibility during off plan and construction, providing customers with access to funding throughout their homeownership journey.
Bill O'Regan, Group Chief Executive Officer of Modon Holding, stated that Abu Dhabi continues to strengthen its position as one of the world's most attractive destinations for investment and long-term growth, creating high demand for new real estate launches. Modon's off-plan financing solution with ADIB will give more buyers access to these opportunities, reflecting the market's ongoing transformation and supporting broader efforts to enhance global competitiveness.
Mohamed Abdelbary, Group Chief Executive Officer of Abu Dhabi Islamic Bank, mentioned that as Abu Dhabi's real estate market continues to create compelling opportunities and attract strong demand, it is important that financing solutions evolve alongside it. Through the partnership with Modon, ADIB is introducing a first-of-its-kind offering in Abu Dhabi that transforms the home-buying experience by providing financing throughout the property development journey.
Ibrahim Al Maghribi, CEO of Modon Real Estate, emphasized that at Modon, innovation extends beyond the communities they create to how they make homeownership more accessible. The partnership with ADIB represents a significant step forward in redefining off-plan home financing by introducing a game-changing financing solution. This marks a new chapter for Abu Dhabi's real estate market by expanding opportunities for eligible buyers and enhancing market accessibility.
The partnership supports the continued development of Abu Dhabi's real estate sector by introducing an innovative financing framework that expands access to off-plan investment and creates greater flexibility for buyers and investors. It further reflects Modon's and ADIB's commitment to delivering forward-looking solutions that enhance the property ownership journey while supporting the emirate's long-term ambitions.