Dubai is set to launch a “Rent Now, Pay Later” service in September that will allow tenants to spread annual rent payments over up to 12 months without interest, according to a report by Emarat Al Youm. The initiative is being developed by the Dubai Land Department (DLD) in partnership with a local bank.
Under the proposed model, the participating bank would pay the landlord the full annual rent upfront after a tenant selects a residential property. The tenant would then repay the bank through flexible monthly installments over a period of up to 12 months, with no interest.
