Abu dhabi: Abu Dhabi Islamic Bank (ADIB) has joined forces with the Abu Dhabi Housing Authority (ADHA) to offer eligible UAE nationals streamlined digital pre-approval for Shari'a-compliant home financing solutions. This collaboration is a significant step towards bolstering the UAE's commitment to homeownership and enhancing family well-being by providing customers with immediate in-principle approval for home financing through a fully digitised credit system developed by ADIB.
According to Emirates News Agency, the homeownership rate among UAE nationals is projected to reach 91 per cent by 2025, underscoring the nation's ongoing dedication to ensuring access to quality housing and fostering long-term community stability. This partnership allows customers with existing ADHA National Housing finance to access additional financing from ADIB for purchasing, building, or expanding their homes.
The initiative offers profit-free housing finance approvals up to AED1.75 million courtesy of ADHA, with ADIB providing supplementary financing as needed. Eligible UAE nationals will benefit from competitive, customized financing options, enhanced user experience, and an integrated journey with the ADHA housing process.
Homeownership is a fundamental aspect of family stability and financial security. By partnering with ADHA, ADIB is expanding digital pre-approvals, empowering UAE nationals to construct, upgrade, and personalize their homes swiftly with indicative approvals available within minutes.
Combining ADHA's housing support with ADIB's Shari'a-compliant financing expertise, the partnership facilitates a seamless customer experience, helping customers achieve their homeownership goals. ADHA is committed to delivering suitable housing that meets citizens' requirements, and its collaboration with ADIB enriches the digital experience for beneficiaries.
This partnership signifies a mutual dedication to supporting UAE nationals' housing aspirations through practical and accessible financing solutions, complementing existing housing programmes. By fostering closer cooperation, ADIB and ADHA aim to improve the customer experience, offer greater homeowner flexibility, and contribute to the sustainable development of communities across Abu Dhabi.
The collaboration underscores ADIB's dedication to providing innovative and digitized Islamic financing solutions that address the evolving needs of UAE nationals, aligning with the UAE's broader vision of enhancing life quality and reinforcing family and community well-being.