Dubai Land Department Launches Rent Now Pay Later Service for Tenants

The Dubai Land Department (DLD) has officially launched the "Rent Now, Pay Later" service, offered exclusively through Emirates NBD credit cards, Emirates 24|7 reported citing the department's website. The initiative allows tenants to divide their annual rental obligations into monthly instalments over six or 12 months, while property owners receive the agreed covered amount upfront.

According to the DLD, the service is subject to Emirates NBD's credit assessment and eligibility requirements, while the standard option to pay the full annual sum in a single transaction remains available. The financing covers either the complete annual rent or a portion agreed between the parties, and the bank manages the tenant's monthly repayments independently of the landlord-tenant relationship. Security deposit amounts are not covered by the instalment arrangement.

To activate the mechanism, the landlord initiates the process by selecting the service, specifying the agreed rental amount, submitting International Bank Account Number (IBAN) details and the account holder's name, signing the contract, and dispatching it for tenant review. In the subsequent stage, the tenant receives a notification, approves the contract details, and completes the transaction using an eligible Emirates NBD credit card.

The official launch follows earlier reports by Emarat Al Youm stating that the DLD was preparing a zero-interest rental financing mechanism in collaboration with a local financial institution to ease the upfront cash-flow burden of annual lease payments.