Abu Dhabi – Mubasher: Aldar Properties, a leading property developer based in Abu Dhabi, on Thursday unveiled the launch of a new rent to own scheme for a limited number of homes in its West Yas community that surround Yas Island.
Through the new scheme, customers will be able to build up their home equity over a five-year period while paying only AED 220,000 in annual rent, according to a press release.
All rent payments in the villas will be turned into equity by the end of the five-year period, Aldar indicated.
Apart from the rent payments, management fees have been set at AED 15,000 per year for the rent-to-own (RTO) period, the real estate company noted.
Talal Al Dhiyebi, CEO of Aldar, said: “We are launching this specific rent to own scheme in West Yas to enable customers to build ownership in their homes over time and live in this stunning community. We know that there is real demand for a rent to own scheme at communities like West Yas, so we are delighted to respond with a product that suits the needs of our customers.”
“The iconic Yas Island has become one of Abu Dhabi’s most exciting destinations, attracting residents, tourists and investors alike. We look forward to having more people calling it home,” he added.
West Yas benefit is located in close proximity to Yas Mall and many other leisure facilities on Yas Island, including Yas Waterworld, Yas Marina Circuit, Yas Marina, Yas Links, Ferrari World Abu Dhabi, du Arena, and various food and beverage outlets across the numerous hotels on the island.
The development has more than 1,000 four- and five-bedroom villas that range in size from 488 to 580 square metres and designed in accordance with the highest standards by Aldar to meet individual requirements.
The project features a wide range of amenities and facilities, including two schools, three mosques, sports facilities, retail centres, a community centre, and extensive landscaping and greenery in the open public spaces.
It is worth noting that the delivery of villa at West Yas commenced in late 2018.
