Off-Plan Mortgage in Dubai: Process, Benefits and Eligibility Criteria !
Let’s get started,
- You can get a bank loan (mortgage) for a home that is still being built in Dubai.
- A new rule allows you to borrow up to 50% of the price once the building is 40% complete.
- You must use an approved developer and meet standard bank income rules to qualify.
Understanding Off-Plan Mortgages
The Dubai property market has options for everyone. If you want to buy a home, you can choose an off-plan mortgage. This is a bank loan for a property that is still being planned or built.
Off-plan properties usually cost less than ready homes, which is great for saving money. In the past, getting a loan for an unbuilt home was very difficult. Now, a top UAE bank offers a better loan option to give buyers more flexibility.
How It Works
A normal mortgage pays for a finished house. An off-plan mortgage pays for a house while it is being built.
The bank does not give you all the money at once. Instead, they pay the developer in stages as the building grows. This means the bank covers your construction payments instead of you paying out of pocket.
- The Rules
To get this loan, you must follow a few simple guidelines:
- 40% Built: The building must be at least 40% finished before the bank helps.
- 50% Paid: You must pay the first 50% of the property price yourself. The bank covers the remaining 50%.
- Direct Payments: The bank sends the money directly to the developer at the right times.
- Pre-Approval: You can get a bank promise (pre-approval) that lasts for 90 days.
- Real Job Income: You must have a regular salary or own a business. The bank won’t accept investment returns or stock dividends alone.
Interest Rates (As of June 2026)
- 4.49% fixed for 3 years if you move your salary to the bank.
- 4.99% fixed for 3 years without moving your salary.
Who Can Apply?
Getting a loan for an unbuilt home is stricter than buying a finished one. Your project must be made by a top developer approved by the bank. The bank will also look at your age, job safety, and credit history. If you have a steady income and your property qualifies, your chances are high.
Lower upfront cost: You only need to pay half the property price before handover.
More time to pay: You can pay back the bank over up to 25 years, which is much longer than a developer’s plan.
Keep your cash: Financing helps you keep money in your pocket for emergencies or other investments.
Higher total price: You have to pay bank interest, which makes the home cost more in the long run.
Fewer choices: This loan only works for specific approved developers.
Approved Developers
As of June 2026, you can only get this loan for properties built by these companies:
- Emaar
- Dubai Holding
- Majid Al Futtaim
- Al Wasl Group
- Aldar (Dubai projects)
- Sobha
- Damac
- Ellington
- Omniyat
- Binghatti
If your developer is not on this list, you cannot get this specific bank loan.
Other Options
If you cannot get an off-plan mortgage, you can try:
Developer Payment Plans: Many companies let you pay them directly in monthly or quarterly steps, sometimes even after you move in.
Mortgage at Handover: You pay the build phases with your own cash, and then get a normal bank loan the day the building is fully finished.
How to Apply
- Talk to an advisor: They will check if your income and property qualify.
- Check the building progress: Make sure the building is 40% complete and on the approved list.
- Get pre-approved: Get an official document from the bank showing how much you can borrow.
- Submit the application: Fill out the paperwork with your advisor.
- Bank pays the builder: Once approved, the bank handles the remaining build bills.
Conclusion
Getting a loan for an unbuilt home used to be nearly impossible. Now, you can borrow up to half the cost during construction.
At Glamour Homes Real Estate Dubai, we help you look at all your finance options to find the best deal for your wallet. Contact us today for professional advice and guidance to see if an off-plan mortgage is right for you!
