Abu Dhabi's Aldar Properties has launched a new rent-to-own scheme for a limited number of homes in its West Yas community.
The development, overlooking the natural mangroves that surround Yas Island, has more than 1,000 four and five-bedroom villas, two schools, mosques, sports facilities, shops, a community centre and more.
Using the new scheme, some people will be able to build up their home equity over a five-year period while paying Dhs220,000 in annual rent.
All of those rent payments will be converted into equity in the villa at the end of the five-year period, the developer says.
There are also annual Dhs15,000 management over the full five-year period.
Talal Al Dhiyebi, CEO, Aldar, says: “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.”