Dubai is set to introduce a 'Rent Now, Pay Later' service this September. Tenants can split annual rent into 12 monthly installments without interest, easing financial pressure. The Dubai Land Department partners with a local bank to pay landlords upfront while tenants repay the bank flexibly.
Our retelling · details in the original publication
Dubai is preparing to launch a new service allowing tenants to pay rent monthly without interest. The 'Rent Now, Pay Later' program is expected to start in September. It is developed by the Dubai Land Department in partnership with a local bank to provide more financial options for residents. This move aims to change how people manage their housing expenses.
Here is how the system works. You choose a residential property, and the participating bank pays the landlord the full annual rent upfront. You then repay the bank in installments over up to 12 months. The key benefit is zero interest on these payments, making it a much cheaper alternative to using credit cards or personal loans.
This initiative builds on the Flexi Rent program launched by DLD in June. It offers more flexibility for managing housing payments. For tenants, this means avoiding large one-time cheques and maintaining better cash flow management throughout the year. It is a significant shift for the rental market that benefits many expats.
Details are available in the original publication.
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