Prime Highlight
- REEF Luxury Developments launched “-20 By REEF”, a program that removes the 20% down payment requirement for salaried UAE residents.
- The initiative aims to make homeownership accessible to over one million professionals with stable incomes but limited upfront savings.
Key Facts
- Buyers can purchase off-plan homes through Shariah-compliant financing with small monthly installments, eliminating large upfront costs.
- The initiative builds on REEF’s reputation for innovative housing solutions, such as Climate-Controlled Sunken Balconies and Winter Gardens.
Background
REEF Luxury Developments has announced a new initiative aimed at making homeownership easier for salaried residents in the UAE. The program, called ‘The -20 By REEF’, removes the traditional 20% down payment requirement that has long been a barrier for many people trying to buy homes.
The initiative, launched as part of the company’s Corporate Social Responsibility (CSR) efforts, focuses on helping more than one million salaried professionals in the UAE who have stable incomes but often struggle to afford the initial costs of owning a home.
Samer Ambar, Co-Founder and CEO of REEF Luxury Developments, said the project is not an advert but a purposeful initiative aimed at opening the doors of homeownership to UAE residents.
Through the program, qualified residents will be able to buy off-plan houses on financing that complies with Shariah, with payments made in small monthly installments. This precludes the buyers from having to make a huge down payment up front. The funding framework is anchored by a controlled Islamic financial institution that is compliant and financially stable.
Ambar added that this step will help turn the dream of owning a home into reality for many salaried residents.
The launch also highlights REEF’s innovative approach in real estate, following its well-known developments that feature Climate-Controlled Sunken Balconies and Winter Gardens, designed to improve comfort in Dubai’s climate.
By introducing -20 By REEF, the company is establishing itself as a leader in residential solutions, as it tackles the issues of affordability without giving up on the idea of luxurious living.
