Aldar Properties is offering customers the option to pay their rent by credit card starting from today.
Abu Dhabi's largest listed developer says customers can now pay rent in advance using a credit card either on a monthly, quarterly or annual basis, with the developer offering to pay the relevant credit card fees. Payments can currently only be made in person at one of the offices of the developer's real estate management arm, Provis, but online and mobile payment options are set to follow.
“At Aldar, we are always looking for new ways to enhance the customer experience and allowing customers to pay rent by credit is yet another example of our commitment in this regard," the developer's executive director of portfolio management, Meqdad Al Mubarak, said.
"We believe that this new payment method will offer considerable value to our residents."
Currently, most rental payments in the UAE are made in the form of post-dated cheques. This has occassionally caused difficulties for both landlords and tenants alike, with landlords exposed to lost revenue from tenants whose cheques bounce, while some tenants have handed over large cheques covering annual rental payments to fraudsters who do not own the properties they are supposedly leasing.
Aldar said the new payment option is available across all of the company’s communities and builds on initiatives recently undertaken "to increase flexibility and convenience for residential customers".
These initiatives include the launch of rent-to-own schemes across projects including West Yas, Ansam, Al Hadeel, and Meera and Dh190 million worth of support measures for customers during the pandemic, such as monthly payment plans for residential rents and subsidised financing for homeowners. The developer also offered payment plans on Aldar Education school fees and additional support for retail tenants in its communities.
Last week, Aldar said it increased net profit by 2 per cent to Dh484m in the second quarter while revenue jumped 21 per cent to Dh2 billion despite "a challenging market environment".
Average rental rates in Abu Dhabi dropped 2.2 per cent for apartments and 2 per cent for villas quarter-on-quarter for the three months ending June 30, according to Chestertons, and sale prices fell 1.4 per cent and 1.3 per cent, respectively, over the same period.
However, sales volumes are forecast to pick up in the second half of the year due to "generous developer incentives, such as extended post-handover payment plans, initial service charge waivers and discounted prices", Chestertons MENA's head of strategic consultancy, Chris Hobden, said last month.
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Inside the Dh120m Dubai Palm Jumeirah mansion that comes with a Ferrari, Rolls Royce
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The Dh120 million property is being sold with a Ferrari, Rolls Royce and Harley Davidson. Courtesy Luxhabitat Sotheby's International Realty -
The villa's inviting infinity pool. Courtesy Luxhabitat Sotheby's International Realty -
With the poolside cabanas, you could be forgiven for thinking a beach club had been put on the market. Courtesy Luxhabitat Sotheby's International Realty -
A view of the 14,000 sq ft villa from above. The property is located on Palm Jumeriah, Dubai. Courtesy Luxhabitat Sotheby's International Realty -
One of the five luxurious bedroom suites. Courtesy Luxhabitat Sotheby's International Realty -
The formal kitchen and dining area. Courtesy Luxhabitat Sotheby's International Realty -
Come the cooler months, the home can be adapted to offer seamless indoor / outdoor living. Courtesy Luxhabitat Sotheby's International Realty -
Mickey Mouse pop art pieces by Fidia Falaschetti, that seem to have been inspired by Jeff Koons, inject personality into the property. Courtesy Luxhabitat Sotheby's International Realty -
A restaurant-standard kitchen. Courtesy Luxhabitat Sotheby's International Realty -
A Harley-Davidson bike is on display inside the property. Courtesy Luxhabitat Sotheby's International Realty -
The villa's expansive living area. Courtesy Luxhabitat Sotheby's International Realty -
Italian marble in the spacious bathroom. Courtesy Luxhabitat Sotheby's International Realty -
The Palm Jumeirah mansion is on the market for Dh120 million. Courtesy Luxhabitat Sotheby's International Realty -
The property even boasts Bentley branded crockery. Courtesy Luxhabitat Sotheby's International Realty -
The property's enviable gym. Courtesy Luxhabitat Sotheby's International Realty -
The indoor private cinema, which has an Imax screen, 4k projector and Dolby Atmos sound system. Courtesy Luxhabitat Sotheby's International Realty -
The villa even comes with a popcorn and nacho machine. Courtesy Luxhabitat Sotheby's International Realty -
Spacious walk-in wardrobes will accommodate the needs of those with the biggest of shopping habits. Courtesy Luxhabitat Sotheby's International Realty -
An outdoor cinema will keep swimming guests entertained. Courtesy Luxhabitat Sotheby's International Realty -
The dining area offers sea views. Courtesy Luxhabitat Sotheby's International Realty -
The living area opens up out to the pool. Courtesy Luxhabitat Sotheby's International Realty -
The property has been completed with luxury touches, so the buyer can just 'walk in' and live in it. Courtesy Luxhabitat Sotheby's International Realty -
The property's formal dining area. Courtesy Luxhabitat Sotheby's International Realty -
One of the suites' walk-in wardrobes. Courtesy Luxhabitat Sotheby's International Realty -
A bathroom with a view. Courtesy Luxhabitat Sotheby's International Realty -
Outside of the property at dusk. Courtesy Luxhabitat Sotheby's International Realty -
An expressive piece inside the home. Courtesy Luxhabitat Sotheby's International Realty -
Pops of colour come from statement works of art. Courtesy Luxhabitat Sotheby's International Realty -
The view from the living room. Courtesy Luxhabitat Sotheby's International Realty -
The infinity pool leads down to the private beach. Courtesy Luxhabitat Sotheby's International Realty -
The property as seen from above thanks to drone footage. Courtesy Luxhabitat Sotheby's International Realty
