Wasl signs off-plan home finance deal with Emirates NBD and AED 10bn building pact with Ssangyong

The agreement was announced on 5 November. In the same week, Wasl signed a separate framework agreement with the Korean contractor Ssangyong E&C covering about AED 10 billion of future projects in Dubai.

The bank's team will guide buyers through the finance options, eligibility rules, documents and the application, up to the point the loan is paid out. The agreement covers Wasl's off-plan developments as a whole, rather than named projects.

All lending stays subject to Emirates NBD's mortgage policies and eligibility criteria, and to UAE law. The announcement does not set a payment milestone at which buyers can apply.

Wasl said the aim is to help buyers make decisions with confidence. Emirates NBD said it wants the financing process to be smoother for customers.

Wasl and Ssangyong E&C signed a memorandum of understanding covering about AED 10 billion of work over three years. That is about KRW 3.6 trillion. It spans residential buildings, hotels and mixed-use developments.

No projects are named yet. Ssangyong has built for Wasl since 2017, including the Hyatt Centric hotel and the One Residence tower, and has six projects under way in Dubai.

Ask about bank finance before you commit to a payment plan. If you plan to borrow, check with the bank how much of the price you must pay yourself, and when you can apply.

Wasl's current launches are in central Dubai and Jumeirah Golf Estates. They include Avenue Park Towers II and Nine Collective in Al Kifaf, Boulevard Park at Wasl Gate, and Cedarwood Estates South at Jumeirah Golf Estates.

Check the basics before you pay. Confirm that the project and your unit are registered with the Dubai Land Department, and that payments go to the project's escrow account. You can browse all launches on our Wasl developer page.