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ADIB extends home finance facilities to retail buyers on Jubail Island with exclusive offer

Abu Dhabi, UAE; 23 May 2022: Abu Dhabi Islamic Bank (ADIB), a leading financial institution, announced today that it partnered with Jubail Island Investment Company (JIIC) to present to their customers an offer for home finance on Jubail Island. The offer enables buyers to benefit from an attractive profit rate, waiver of processing fees, waiver of property valuation fee, free property takaful, and waiver of early settlement charges up to 30% of the outstanding finance each year.

The offer applies to customers who have already purchased or are looking to purchase homes in phase one of Jubail Island. ADIB will be providing home finance of up to AED 30 million for investors with extended tenor of up to 25 years covering up to 85% of the total value of the ready property.

Buyers only have to pay 30 % before handover with the remaining 70 % at completion. The maximum finance cap is 85% for end users and 65% for investors which is to be paid conveniently through the home finance offer by ADIB.

Mohamed Al Fahim, Regional Head of Corporate Banking, ADIB, said: “As the leading Islamic bank in the region, it is efforts like this that showcase how Islamic banks can be an integral part of the development of a community. We want to provide our customers with an easy, quick, and seamless way to achieve their long-term home ownership goals. For many people seeking a place to call home, Jubail Island will be an attractive prospect. We are pleased to be partnering with JIIC who are similarly dedicated to providing an excellent offering to their customers.”

Mahmoud Dandashly, Chief Business Officer of Jubail Island Investment Company (JIIC), commented “We are happy to be partnering with ADIB to provide our customers with attractive financing options that provide them with an even better experience while on their home-buying journeys.

“This partnership will provide prospective homeowners with methods that will allow them to conveniently achieve their goals of purchasing their idyllic home and become part of a landmark community in the capital. We look forward to establishing more strategic partnerships that will boost the real estate sector in Abu Dhabi and the United Arab Emirates.”

Jubail Island comprises approximately 40 square kilometers in size with more than 30 kilometers of pristine waterfront surrounded by mangrove forests. The development is segregated into three phases and will include six investment zone villages across 4000 hectares of mangroves and coastal estuaries exceeding 32 kilometers of waterfront in phase one. Phase one also comprises 1,253 units including 809 villas and plots, 182 townhouses, and 262 apartments distributed on multiple plots. In addition, there will also be amenities such as a marina district, schools, sports complex, retail center and parks, and it is expected to be home to 7,000 residents.

ADIB previously partnered with JIIC to provide the first Sharia-based leasing “Ijarah” agreement for Jubail Island for phase one of the development.

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Jubail Mangrove Park Rules

Jubail Mangrove Park Rules
This park has access to open water bodies and there are no lifeguards on duty.
The Park is monitored by CCTV 24 hours a day.
Swimming or diving into the water is not permitted.
No pets allowed.
No Littering.
No smoking allowed.
No food or beverages allowed on the boardwalk.
Please do not lean or climb over the railing.
Toys, Skating, the use of scooters and/or bicycles are not permitted in the park.
Respectful clothing must be considered.
All parcels and bags are subject to a security check.
Items displayed, plants, wildlife must not be touched and/or removed.
Please do not sit or place children on the railing.
Children under the age of 18 must be accompanied by an adult at all times during the visit.
Park representatives reserve the right to remove any persons contravening the above or due to unruly or inappropriate behaviour.
Disclaimer: Guests and their visitors or employees enter and use these premises at their own risk. Neither the Owners nor their Representatives or Agents are liable for loss or damage to any guest, visitor, employee or any person’s property, nor for injury or death of any guest, visitor, employee or any person whether such loss or damage to property or injury or death is as a result of the negligence of the Owners and or their Representatives or Agents or not.

For myself and for my heirs, personal representatives and assigns, I hereby:

I agree to assume responsibility for the risk of the activity, whether identified or not. My participation in the activity is purely voluntary. I assume full responsibility for myself for any bodily injury, accident, illness, paralysis, death, loss or damage to personal property and expenses thereof as a result of my participation in the activity.

I confirm and warrant that: I have no medical condition (physical or mental) which would/could impact on my ability to participate in the activities provided; [For female participants] I am not pregnant; I am physically able to participate in the activities provided; I am not taking any herbal or medicinal supplements or prescription drugs that could impact on my ability to participate in activities provided.

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The undersigned understands that this agreement does not include participant insurance. The undersigned acknowledges that they either have appropriate insurance or, in its absence, agree to pay all cost of rescue and/or medical services as may be incurred on their behalf.

The undersigned agrees to pay for any or all damages to any equipment or property caused by the undersigned either negligently, willfully, or otherwise

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