Abu Dhabi Finance inks Bloom mortgage deal
Abu Dhabi, August 25, 2010
Abu Dhabi Finance, a leading home finance provider in the emirate, said it has signed an agreement with Bloom Properties to offer mortgages with interest rates starting from 5.75 per cent for their villas in Bloom Gardens.
Under the deal, Abu Dhabi Finance will offer mortgages to all eligible prospective home buyers in Bloom Gardens, with all its key features including lowest interest rates, a loan-to-value ratio of up to 85 per cent, mortgage tenures of up to 30 years, and a range of repayment options, including the choice of having a one-month payment holiday per year.
Ali Eid Al Mehairi, chairman of Abu Dhabi Finance, said: 'We keep expanding our reach in the Abu Dhabi market, and with Bloom Gardens we are offering yet another class and type of home to our clients.'
'We listen to needs of our clients and the market, and by incorporating Bloom Gardens into our portfolio, we are addressing both. With the emirate's growth, demand for high quality family accommodation will rise and walkable green residential neighbourhoods with schools are ideal to meet current and future population needs,' he noted.
Jawaan Awaidha Al Khaili, chairman of Bloom Properties, said the Bloom Gardens will, on completion, offer residents a lush landscaped garden environment on Abu Dhabi's eastern Mangrove Corniche Road.
The development comprising 372 residential units – a mix of detached villas, town-house villas and semi-detached villas – will also host the Brighton College, the Abu Dhabi campus for the prestigious British school, conveniently located within the community, he added.
The villa architecture is inspired by the rustic simplicity of Italian and Andalusian designs, blending natural elements such as wood, sandstone and terracotta, while creating an easy-going Mediterranean ambience.
With living spaces opening on to shaded balconies and terraces to create a harmonious ambience, the spacious three, four, and five bedroom villas are ideally suited for families with children. The development is available to both UAE and GCC nationals, with the completion of first phase by October next year.
On the partnership, Al Khaili said: “We are delighted to partner with a leading mortgage provider such as Abu Dhabi Finance. The tie up will offer our villa buyers access to premium service and best value mortgages in the UAE.'
'Recognitions such as the CNBC Arabian Property Award for Best Residential Development that we received last year help us remain committed to maintaining such standards. The development is expected to meet the needs of modern families and we are confident of its high appeal to a range of buyers,' he added.
Abu Dhabi Finance currently offers service-focused flexible mortgages for a range of properties, from studio flats to luxury villas in and around Abu Dhabi, the company statement said.-TradeArabia News Service