UAE-based property portal Bayut has partnered with Abu Dhabi Commercial Bank (ADCB) to launch a mortgage pre-approval tool.

The new tool, called ADCB Dream Home Platform, is the first digital home ecosystem of its kind in the UAE, the company said in a statement.

The tool lets customers to apply for instant pre-approval on a home loan. Once a prospective buyer submits an application, the decision for loan eligibility is made in real-time within a few minutes. This significantly reduces the time taken for pre-approval, which usually takes a few days in a traditional set up.

Anthony Blackford, the Director of Advertising for Bayut and dubizzle said, “This new initiative will help interested buyers and investors to find everything they need in one dedicated platform; the property listings, detailed guides, market data about the neighbourhoods, and now with this partnership with ADCB, an instant pre-approval process so buyers are aware of the financial flexibility they can work with.”

In June, Bayut’s owner, Emerging Markets Property Group (EMPG), merged its operations in MENA and South Asia with OLX Group, which owns Dubizzle. That made OLX Group EMPG’s single largest shareholder and left both Bayut and Dubizzle operated by EMPG.

Print Friendly, PDF & Email

Related Articles