The Aldar headquartrers in Abu Dhabi
The Aldar headquartrers in Abu Dhabi. The company has launched a new rent-to-own scheme. Image Credit: Gulf News Archives

Dubai: Aldar in Abu Dhabi has launched a new rent-to-own scheme, where tenants at its Ansam (at Yas Island), Al Hadeel (Al Raha Beach) and Meera (Reem Island) communities can pay over one, two and three year periods.

They can exercise the rent-to-own option with no rent escalations or fees while building equity. They will build up equity positions of 16 per cent, 19 per cent and 22 per cent over years one to three.

The rentals start at Dh120,000 per year in Ansam, from Dh140,000 per year in Al Hadeel, and from Dh110,000 in Meera.

“We wanted to create an accessible solution where customers can build equity in their homes in as little time as possible, while living in and enjoying their community,” said Maan Al Awlaqi, Executive Director – Commercial. “This is particularly important to those who want to own a home but are not in a position to handle the large down payments that are usually required.”