Sobha Realty and RAKBANK Partner to Ease Home Financing

Sobha Realty signs an MoU with RAKBANK to offer preferential mortgage solutions to eligible property buyers across the UAE, covering ready homes in Dubai and Abu Dhabi and selected off-plan projects in Dubai.

Sobha Realty signs a Memorandum of Understanding (MoU) with RAKBANK, the National Bank of Ras Al Khaimah, to provide preferential home financing solutions to eligible buyers of its residential properties across the United Arab Emirates. The partnership aims to simplify the home-buying process by improving access to mortgage options and providing customers with direct guidance throughout their financing journey.

Under the agreement, eligible buyers purchasing ready properties in Dubai and Abu Dhabi can apply for financing immediately, subject to RAKBANK’s eligibility criteria and approval. For selected off-plan residential projects in Dubai, financing becomes available after buyers pay at least 50% of the property value and the prescribed construction milestone is achieved.

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The arrangement is designed to offer greater flexibility to buyers by providing financing options at different stages of their property purchase. It also extends to eligible non-resident customers buying ready residential properties, including Golden Visa holders, broadening access for international investors and prospective homeowners.

As part of the collaboration, RAKBANK representatives will be available at selected Sobha Realty premises to answer financing-related queries and guide customers through mortgage applications. By bringing banking support closer to the point of purchase, the partnership seeks to make the process more convenient and transparent.

Francis Alfred, Managing Director of Sobha Realty, says access to reliable and well-structured financing plays an important role in homeownership. He notes that the partnership reflects the developer’s focus on providing buyers with greater financial clarity, convenience and confidence when purchasing a property.

Shehzad Hameed, Managing Director of Retail Banking at RAKBANK, says the collaboration combines residential development with accessible financing solutions. He adds that direct assistance at selected Sobha premises will help customers understand their options and navigate the application process more efficiently.

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RAKBANK also offers its Home in One mortgage product, through which savings held in a linked account can help reduce mortgage interest costs while allowing customers to retain access to their funds, subject to the product’s terms and conditions.

The partnership comes amid continued demand for residential property across Dubai and Abu Dhabi. By combining home financing with on-site customer support, Sobha Realty and RAKBANK aim to strengthen the purchasing experience for eligible resident and international buyers while supporting activity in the UAE’s residential real estate market.