PropTech Huspy Processes Mortgages Worth AED 1 billion

The mortgage platform has established a historic industry monthly record for November 2023

Huspy (www.huspy.com), the UAE headquartered proptech start-up which is redefining home buying in the Middle East and Europe, has announced that its mortgage unit in the UAE has processed a record AED 1 billion+ (USD $270 million) in home financing in November 2023.

This milestone sets an industry record for the UAE’s retail mortgage lending sector, with no financial institution crossing the AED 1 billion mark previously in a single month. Today, Huspy is recognised as the UAE’s largest mortgage platform with consistent growth despite interest rate hikes in 2023.

The UAE’s property market continues to see strong demand across off-plan projects, affordable homes, luxury residences and secondary sales. As a single platform to find and finance a home, Huspy enables its customers to close on their preferred property faster. Through its partnerships with all leading UAE banks, resident and non-resident customers can choose from the most competitive interest rates starting from as low as 4.24% for a fixed three year basis. Currently, popular areas in the UAE for home financing include Business Bay, Downtown Dubai, Jumeirah Lake Towers, and Jumeirah Village Circle.

“The UAE’s leadership with its future-centric vision has laid the right foundations to build a thriving start-up ecosystem, which has enabled Huspy to evolve into a proptech leader and the largest mortgage platform. The demand for home ownership in the UAE has been unparalleled, and with the use of cutting-edge technology, Huspy has grown faster than the market which is a proud achievement for us. This milestone of AED 1 billion+ in November 2023 is indicative of the trust home buyers have in Huspy and our commitment to delivering a category-defining home buying experience,” said Fouad Chemlati, General Manager of Mortgages, Huspy.

The UAE’s strong economic resurgence, world-class lifestyle, and affordable financing have led more people to choose to build their lives here and they are choosing Huspy to secure the best mortgages. Homebuyers who select Huspy on average apply for a loan amount of AED 1.8 million.

The company supports streamlined pre-approvals which are faster than the industry standard, meaning customers are able to secure financing for their home with greater confidence. Huspy has attracted talent from the global start-up ecosystem to its offices in Dubai and Madrid, as it advances its vision of growing from the UAE to the world, setting a new benchmark for Middle East innovation.