ABU DHABI - Aldar Properties today announced that it is launching a new rent to own scheme for a limited number of homes in its West Yas community.

The scheme will enable customers to build up their home equity over a five-year period while paying only AED220,000 in annual rent. 100 percent of rent payments will be converted into equity in the villa at the end of the five-year period. Separate to the rent payments, management fees are set at AED15,000 per year for the duration of the Recovery Time Objective, RTO, period.

Commenting on the announcement, 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."

West Yas features over 1,000 four and five-bedroom villas, ranging from 488 to 580 sqm in size designed and built to the highest standards by Aldar to meet individual requirements. The development offers a number 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.

Villa handovers commenced in late 2018.

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