99pc funding for JBR homes
Dubai, June 25, 2007
Dubai Bank will offer up to 99 per cent financing for the purchase of residential apartments at Jumeirah Beach Residence (JBR).
Dubai Bank has entered into a strategic alliance with Dubai Properties in this regard.
The offer valid for a limited period, is on the occasion of the official handover of all 6,900 units, said a Dubai Properties official.
'It is part of Dubai Properties commitment to provide value-added services and convenience for prospective buyers. The unique offer allows customers to obtain a finance facility with only 1 per cent down payment to purchase 1, 2, 3 and 4 bedroom apartments with either sea or marina view,' Dubai Properties director of sales, Abdul Rahman al Madhloum noted.
He said the Dubai Properties aimed to provide dream homes with the added value of convenience not only in terms of location but also price.
“We are proud to join Dubai Bank in offering homeowners the opportunity to purchase apartments in our first freehold residential development at Jumeirah Beach Residence and therefore partnered in this landmark agreement to promote our unique gesture for the repayment policy.”
The financing option will be made available only to UAE nationals and UAE residents.
Dubai Bank will charge a flat processing fee of Dh10,000. Finance facility repayments will span a maximum period of 20 years based on the eligibility criteria.
Dubai Bank CEO Abdul Aziz Al Muhairi said the strategic alliance was a milestone in the real estate market.
Jumeirah Beach Residence has been an extremely popular development not only among investors but also home owners, who are looking for a refreshing lifestyle by the beach. This limited offer will provide a unique opportunity to own your dream home in one of the most sought-after developments in Dubai.” TradeArabia News Service