When buying certain off-plan and under-construction properties in Ras Al Khaimah, qualified purchasers can now access funding at various stages thanks to a new financing solution introduced by RAK Properties and Rakbank. The product will be offered in 12 RAK houses complexes, with a primary concentration on off-plan houses.
Before using structured financing options intended to fund purchases from the construction phase through handover, buyers may make an initial investment, subject to eligibility and relevant terms and conditions. The agreement, according to the real estate company, is a first-of-its-kind financing option designed to increase the emirate’s accessibility to off-plan property ownership.
“Our goal at RAK Properties is to make owning a premium residence in Ras Al Khaimah as attractive and easy as possible,” stated Sameh Muhtadi, CEO of RAK Properties. We are happy to provide one of the most affordable home financing options available by collaborating with RAKBANK on this unique program.
“This highly customised and flexible financial pathway gives buyers complete confidence from the off-plan stage all the way to handover, making it more than a standard mortgage product.” RAK Properties is establishing a new standard in our Emirate’s rapidly evolving real estate industry with this innovative solution.
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