Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia has signed a Memorandum of Understanding (MoU) with Emirates NBD, a leading banking group in the Middle East, North Africa and Türkiye (MENAT) region.
The MoU will, for the first time, allow buyers across Majid Al Futtaim’s residential real estate portfolio to secure mortgage financing during the off-plan phase of their ownership. This important milestone signals a broader shift in how homebuyers in Dubai can plan their long-term investments.
Through this new offering, Majid Al Futtaim customers who have completed 50% of their property payments can now seamlessly apply for home-loan financing with Emirates NBD. The initiative offers competitive interest rates, repayment periods of up to 25 years, and eligibility for both UAE nationals and residents who meet the bank’s standard credit and income criteria. The setup also allows buyers to manage their remaining tranche and handover payments through a single banking partner, offering a clearer view of their commitments as they move toward ownership.
For Majid Al Futtaim, the partnership fills a long-standing gap for customers who prefer the security of traditional mortgage financing while still purchasing at the off-plan stage. As Dubai’s residential market continues to lean toward structured payment options, the introduction of this model reflects a growing appetite for more predictable, bank-backed solutions.
Commenting on the partnership, Ahmed El Shamy, Chief Executive Officer, Majid Al Futtaim Development, said: “Buying a home is one of the biggest decisions people will make, and financial clarity plays a huge role in that. Working with Emirates NBD gives our customers an option that feels both familiar and flexible, especially for those who want the stability of a mortgage before handover. Majid Al Futtaim’s portfolio attracts a diverse mix of homeowners, and this step strengthens our commitment to making the journey as accessible and straightforward as possible. As the market evolves, people are looking for financing pathways that fit their long-term plans, and we intend to bring these options to more of our developments over time”.
For Emirates NBD, the collaboration builds on its role as one of the UAE’s most established home-financing providers. The bank sees off-plan mortgage availability as an important tool in strengthening market confidence and supporting responsible buying behaviour.
Rohit Garg, Group Head of Retail Products and RBWM Chief Digital Officer at Emirates NBD, said: “Dubai’s property market continues to attract a diverse buyer base, from young families to long-term investors, with a growing preference for more structured payment arrangements. By working closely with Majid Al Futtaim, we are offering a financing route that gives buyers room to plan ahead while still benefiting from the value of off-plan opportunities. As a leading national bank in the region, we are committed to supporting customers’ home financing needs and this partnership is a natural extension of our ongoing efforts to support sustainable homeownership across the UAE.”
The MoU is also expected to influence how new and existing customers move through the purchase cycle. With mortgage access now available midway through the payment plan, first-time buyers who previously viewed off-plan purchases as financially challenging may find the option more realistic. At the same time, customers already considering a Majid Al Futtaim property are likely to find it easier to commit once they have a clearer sense of future payment structures.
As the partnership takes shape, both organisations view this as the beginning of a longer-term approach to financing across Majid Al Futtaim’s portfolio of residential developments. The introduction of off-plan mortgages is intended to complement Majid Al Futtaim’s broader commitment to building accessible, high-quality communities, while encouraging greater stability and confidence in Dubai’s real-estate market.
