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The Trump Estates at Akoya by Damac

Damac, ADCB sign mortgage facilities deal

DUBAI, September 18, 2014

Dubai-developer Damac Properties and Abu Dhabi Commercial Bank (ADCB), one of the top banks in the UAE, have signed a new agreement offering attractive mortgages to investors in the emirate’s off-plan real estate market.

Clients looking to buy properties in the 42-million-sq-ft golf community, Akoya by Damac, will be able to benefit from an off plan, 50 per cent mortgage on rates as low as 3.99 per cent, a statement said.

The mortgage facility from ADCB allows buyers to enjoy convenient payment plans of up to 25 years tenure and with attractive rates fixed for the first 5 years. Subject to 50 per cent upfront down-payment, the offered mortgage is on rates as low as 3.99 per cent fixed for the first year, followed by rates as low as 4.99 per cent fixed for next 4 years and variable rates thereafter.

“This new agreement will give the opportunity to a large number of home seekers to purchase a high value property in one of Dubai’s leading master developments,” said managing director of Damac Properties, Ziad El Chaar.

“Buyers looking to own their own home in a luxury development will now be able to do so, with a secure finance facility from one of the most trusted banks in the region.”

Dubai’s house prices continued to grow this year, with the latest report by Colliers International suggesting values were up 20 per cent year-on-year in the second quarter of 2014.

Abdul Shakeel, head of Retail Banking at ADCB said: “This newly launched mortgage facility is a golden opportunity for those who are planning to own their homes.”

Akoya by Damac t includes 4.3 million sq ft of private parkland, with luxury branded villas by FENDI, Paramount and Trump providing a new level of luxury living.
The master development is a fully-integrated lifestyle community which will include international schools, a boutique hotel and spa.

A wide variety of villas and apartments have already been made available in Akoya by Damac, including The Trump Estates, Fendi villas, Damac villas by Paramount, Golf Veduta, Brookfield, Queens Meadow, Silver Springs and Whitefield, which all have views of the course.  – TradeArabia News Service




Tags: Damac Properties | ADCB | Akoya |

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