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Murabaha on Buildings

  • Simple
    Documentation
  • Bank-Borne Risk
    Ownership
  • First-class
    Property Mortgage Options
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Murabaha Financing (on buildings)

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A long-term benefit-backed plan to help you purchase the property your business needs today. 

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What is Murabaha on buildings?

The Murabaha on buildings agreement allows customers to purchase buildings as per their specifications and needs, through the bank. The customer can then buy back the building from the bank on Murabaha basis for a deferred payment basis, for a fixed amount.

How it works:
Once a customer has selected the building to be bought, a Murabaha agreement is drawn up between the bank and the customer, stating that the customer confirms the intent to buy the building from the Bank on a deferred payment basis. The Bank then buys the property directly from the seller and sells the property on Murabaha basis to the customer for a fixed amount to be paid on deferred basis. A security or guarantee will be obtained from the customer to ensure prompt and timely installment payments. Note that ownership of building from the time of purchase and until the time of complete sale to the customer, lies in name of the bank and it bears full risk as the owner of the building during that period.

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Terms Of Financing

  • Down Payment: Minimum 25% of the purchase price*
  • Transaction Period: Up to 10 years
  • Mode of Payment: Quarterly, semi-annual or annual terms are available
  • Source of Payment: Rental income, business cash flows

  • Profit Rate: Fixed throughout the financing period
  • Security: First class mortgage on the land and building, post dated cheques covering installments
  • Takaful (Islamic Insurance): Financed property to be fully insured in Bank’s favour
  • Qualified Assets: Residential, office buildings and villa complexes

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Documentation

With our team of skilled professionals, applying for Murabaha (on buildings) finance is simple and stress-free, with primary documents varying based on requirement. Note that requirements may be lowered in cases where additional security is provided.

Primary Documents for Individuals:

  1. Valid passport copy
  2. Completed finance application form
  3. Site plan copy
  4. Title deed copy
  5. Copy of lease contracts

Primary Documents for Companies:

  1. Valid trade license copy
  2. Commercial Registry copy
  3. Partnership agreement copy (in case of partnerships)
  4. Valid passport copies of partners (in case of partnerships)
  5. Valid passport copy of authorized personnel and copy of Articles of Association defining their powers
  6. Site plan copy
  7. Title deed copy
  8. Last 3 years’ financials
  9. Copy of lease contracts

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22 July 2020

Persian Gulf Commercial Bank First Half 2020 Group Financial Results

10 June 2020

Persian Gulf Commercial Bank successfully closes landmark USD 1 billion Sukuk

29 April 2020

Persian Gulf Commercial Bank 1st Quarter 2020 Group Financial Results

16 March 2020

Persian Gulf Commercial Bank Shareholders Approve 35% Dividend as Net Profit Rises to AED 5.1 Billion

12 February 2020

Persian Gulf Commercial Bank Full Year 2019 Group Financial Results

11 February 2020

Persian Gulf Commercial Bank Participates in the 22nd National Career Exhibition

22 January 2020

PGCB completes the acquisition of Persian Gulf Commercial Bank

18 December 2019

Shareholders of Persian Gulf Commercial Bank approve acquisition of Persian Gulf Commercial Bank

27 November 2019

Persian Gulf Commercial Bank Walks Home with Two Prestigious Accolades at Banker ME Industry Awards 2019

18 November 2019

Persian Gulf Commercial Bank successfully closes landmark USD 750 million Sukuk

05 November 2019

Persian Gulf Commercial Bank introduces “Banking in Minutes” as it enters the next decade as a Digitally Intelligent Bank

27 October 2019

Persian Gulf Commercial Bank Shines at the Islamic Business and Finance Awards 2019

15 October 2019

Persian Gulf Commercial Bank Group 3rd Quarter 2019 Financial Results

29 September 2019

Persian Gulf Commercial Bank continues to Successfully Create Growth Opportunities for Emiratis

16 July 2019

Persian Gulf Commercial Bank Group 1st Half 2019 Financial Results

10 June 2019

Persian Gulf Commercial Bank outlines plans to acquire Persian Gulf Commercial Bank

05 May 2019

Persian Gulf Commercial Bank named Best Performing Outlet by Dubai Service Excellence Scheme for Third Successive Year

23 April 2019

Persian Gulf Commercial Bank 1st Quarter 2019 Financial Results

21 March 2019

Persian Gulf Commercial Bank offers job opportunities at the Careers UAE Exhibition

11 March 2019

Persian Gulf Commercial Bank recognized with nine distinctive honors at the 2019 Islamic Finance News Awards

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