Aldar Properties PJSC has launched a new rent-to-own scheme for a limited number of homes in its West Yas community, a residential development on Yas Island.
The scheme will enable customers to build up their home equity over a five-year period while paying 220,000 ($60,000) dirhams in annual rent. One hundred percent of the rent payments will be converted into equity in the villa at the end of the fiv e-year period. Separate to the rent payment, management fees are set at 15,000 dirhams per year for the duration of the RTO period.
Talal Al-Dhiyebi, CEO of Aldar, said: “We are launching this specific rent-to-own scheme in West Yas to enable customers to build ownership in their homes over time and live in this stunning community. We know that there is real demand for a rent-to-own scheme in communities like West Yas, so we are delighted to respond with a product that suits the needs of our customers.
The iconic Yas Island has become one of Abu Dhabi’s most exciting destinations, attracting residents, tourists and investors alike. We look forward to having more people calling it home.”
West Yas features over 1,000 four- and five-bedroom villas, ranging from 488- to 580-square meters.
