Mashreq has launched its new Off-Plan Home Loan financing option for residents in the United Arab Emirates. This financial product aims to meet the growing demand for property financing before construction is complete. Consequently, the bank is expanding its mortgage portfolio beyond existing ready properties to capture a larger share of the local economy.
Mashreq Launches Off-Plan Home Loan Option
The newly introduced Off-Plan Home Loan provides residents with a structured financing alternative that requires zero pre-approval fees. Furthermore, customers can access repayment tenures of up to 25 years with flexible repayment structures. This setup helps buyers manage their cash flow more effectively during the early stages of property acquisition.
Financing Terms and Eligibility Criteria
To qualify for this financing, buyers must select properties from specific projects developed by approved builders. Specifically, the development must be substantially progressed, with an expected handover timeline within 24 months. Additionally, the project construction must be at least 35% complete before the bank approves the financing.
Eligible applicants must also have already paid at least 50% of the total transaction value. Meanwhile, Mashreq home financing specialists will manage the assessment and disbursement processes. These transactions remain subject to local regulatory requirements and internal banking policies.
Market Context and Real Estate Trends
This launch comes at a time when off-plan properties dominate the local real estate market. For instance, off-plan transactions accounted for approximately 70% of all property deals during the year 2025. However, access to structured property financing for under-construction properties has historically remained limited for many buyers.
By offering the Off-Plan Home Loan product, the bank aims to address this gap in the financial market. According to representatives, the bank focuses on delivering solutions that simplify financial decisions. They stated that the product supports the development of the local real estate sector.
“Through propositions such as our Off-Plan Home Loan solution, we are also strengthening our role in supporting the continued evolution of the UAE’s real estate sector and wider economy.”
Fernando Morillo, Group Head of Retail Banking
Future Outlook for Property Buyers
Srinivasan Padmanabhan, Head of Mortgages at Mashreq, noted that off-plan properties now represent the majority of transactions in Dubai. He stated that extending financing to under-construction properties allows residents to invest more easily. As a result, the bank expects increased participation in the property market.
Prospective buyers can register their interest through the bank’s digital platforms. Following registration, dedicated specialists guide applicants through the evaluation stages. This digital integration aligns with broader trends in apps and online banking services.
