Business

Now, you can buy property in Dubai with debit, credit cards

Waheed Abbas


Last updated on May 5, 2021 at 11.30 pm
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Emaar Development and global digital payment firm Visa have tied up to allow customers in the UAE to buy properties in Emaar projects through their debit and credit cards.

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Ahmad Al Matrooshi of Emaar Development said in a fast-growing, digital world, customers would enjoy the plethora of benefits and conveniences that come with the big-ticket realtor being a part of Visa's global merchant network.

Emaar Development has delivered over 47,000 residential units since 2002. The company has a sales backlog of over Dh24.605 billion with 26,000 residential units under development.

Emaar Properties’ overall property sales during 2020 stood at Dh10.9b, of which Dh6.3b was recorded in the UAE.

In August 2020, Abu Dhabi-based developer Aldar Properties allowed its customers to pay rents by credit cards to offer convenient and flexible payment solutions.

"Buying a new home is always a thrilling experience and as partners, we are excited to make that process an even easier one through this partnership with Emaar. It aims to expand acceptance of digital payments for the purchase of Emaar properties and enable UAE residents to make large property-related transactions on their Visa debit and credit cards,” said Andrew Torre, Visa’s regional president for Central and Eastern Europe, Middle East, and Africa.

Torre said cardholders can also make payments through cards for bookings, down payments, or installments for their new homes, without incurring any additional fees.

waheedabbas@khaleejtimes.com