JBR apartments almost sold out
Dubai, August 6, 2007
Dubai Properties has said less than 100 apartments at Jumeirah Beach Residence (JBR) remain to be sold out of the project's 6,900 units.
The last 350 units were offered on a 99 per cent finance offer by Dubai Bank last month. Of these, fewer than 100 remain, the company said.
The Dh7.3-billion ($1.98-billion) JBR project is marketed as the largest single phase residential development in the region with 36 residential towers, four hotel towers and four beach clubs.
"The exclusive finance offer has been popular with UAE nationals and residents alike and in one month we have witnessed the sale of around 75 per cent of the available units," Dubai Properties sales director Abdul Rahman Al Madhloum was quoted as saying by the UAE-based newspaper Gulf News.
As per the terms of the finance facility, which ends on September 24, Dubai Bank charges a flat processing fee of Dh10,000 and Sharia-compliant repayments spanning a maximum of 20 years, depending on the eligibility criteria.