Sobha Realty and Rakbank Partner for Home Finance Solutions in Dubai and Abu Dhabi

Luxury real estate developer Sobha Realty has announced a strategic partnership with Rakbank (National Bank of Ras Al Khaimah) to provide enhanced home financing options for its customers. This collaboration aims to streamline the home-buying process by offering competitive mortgage solutions.

Financing for Ready and Off-Plan Properties

Under the new agreement, Rakbank will provide preferential and competitive mortgage solutions for customers purchasing eligible freehold residential properties from Sobha Realty.

• Ready Properties: Buyers of ready Sobha properties in Dubai and Abu Dhabi can apply for financing immediately, subject to Rakbank's eligibility criteria and approval.
• Off-Plan Properties: For selected off-plan properties in Dubai, financing becomes available once the customer has paid at least 50% of the property value and upon achieving specific construction milestones. This offers buyers greater flexibility in accessing financing at various stages of their purchase.

Support for Non-Resident Buyers and Golden Visa Holders

Critically, the home financing solutions will also be extended to eligible non-resident buyers for ready residential properties, including Golden Visa holders. This move is expected to further enhance the UAE's appeal as a destination for international property ownership and long-term investment.

To ensure a convenient process, Rakbank representatives will be present at select Sobha premises. They will offer direct support, answer financing queries, and guide buyers through the mortgage application process, bringing banking expertise closer to the point of purchase.