Business & Money | Sunday 26 April, 2015 12:41 am |

Abu Dhabi Finance (ADF), one of the UAE’s premier providers of innovative, flexible and transparent residential and commercial mortgage products to the local market, is currently in discussions with some of the major property developers in the UAE to develop innovative mortgage products for ‘affordable housing’. With the overall cost of living in parts of the UAE expected to rise, unstable rent environments and wage inflation stagnating in some sectors, the availability of affordable housing stock and viable financing for this type of housing is becoming more important than ever.

Affordable loans already represent a large part of ADF’s business, with 30% of ADF’s portfolio in residential property being lent on mortgage loans less than AED 1m. As the amount of affordable housing stock has slowly started to rise we have seen enquiries for equivalent mortgages rise with it.

For many people buying a property makes better financial sense than renting, particularly with a fixed term mortgage, as monthly payments tend to be lower, it protects against rent hikes, and ultimately a property is an investment which may appreciate over time. ADF already is committed to providing finance for affordable housing and currently has minimum income entry criterion is only AED 10,000 per month.

Chief Executive Officer of ADF, Chris Taylor said: The demand for affordable housing from middle income families, particularly in Abu Dhabi, is huge. Abu Dhabi is a very attractive place to live, but the cost of housing, particularly rentals, remains high and affordable housing stock for sale is relatively low. Equally there is currently a gap in the market in terms of viable financing for affordable housing. However this is changing, there is a lot of new housing stock in the pipeline for the coming years representing a huge potential market for lenders. While this does not represent a change of strategic direction for ADF, we are in discussions with real estate developers and are well placed continue to deliver quality mortgage products to this segment of the market as it opens up.


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Abu Dhabi Finance is a leading mortgage provider in the United Arab Emirates (UAE), providing individuals and businesses with the most relevant real estate financial solutions.

Formed in 2008 as a private joint stock company partnership between Mubadala Development Company PJSC, Aldar Properties PJSC and Abu Dhabi Commercial Bank (ADCB), Abu Dhabi Finance has grown from strength to strength. This partnership brings years of local financial knowledge and real estate expertise, combined with the most solid financial backing in the UAE and a tangible sense of corporate social responsibility.

Abu Dhabi Finance offers innovative financial solutions ranging from residential and commercial mortgages to financial support services. This expertise, coupled with outstanding client service that sits at the heart of everything we do, has translated into numerous client service and innovation awards since our launch. In 2013, Abu Dhabi Finance became the latest recipients of “The Banker Middle East” awards, winning Best Home Finance Company and Best Home Finance Product. Abu Dhabi Finance has also won the Stevie’s award for Customer Service and the President’s Award for Customer Experience Management for the UAE Customer Service Week STAR Awards.

In 2013, Abu Dhabi Finance expanded its footprint to Dubai, bringing its unique combination of world-class professionalism and intimate client care to the market.

Abu Dhabi Finance encourages its clients to aspire to the highest levels of service and to benchmark their expectations against the best providers internationally.