Dubai is preparing to launch a new “Rent Now, Pay Later” service in September, giving eligible tenants an option to manage their annual rent through monthly instalments spread over up to 12 months without interest.
The initiative is designed to provide greater flexibility to residents who currently face the financial burden of paying a large portion or an entire year’s rent upfront.
Under the proposed arrangement, a participating bank would pay the landlord the full annual rent at the start of the tenancy, while the tenant would repay the bank in equal monthly instalments.
The Dubai Land Department is introducing the initiative to ease rental-payment pressures and make housing costs more manageable for tenants.
Further details, including eligibility requirements and the application process, are expected to be announced before the service officially begins.
