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Al Tajir ties up with DIB for Shariah-compliant options

- August 9, 2007, 8:52 pm

Al Tajir Real Estate, one of the leading independent property specialists in Dubai, has tied up with Dubai Islamic Bank to provide Shariah-compliant financing options to potential buyers of units in their new property Fortunato.

The Fortunato project is a self-sustained community living for the entire family located centrally at Jumeirah Village-South.

Launched in May this year, the construction work of the community commences in September 2007 and is expected to be completed by mid-2009.

Al Tajir Real Estate has existing tie-ups with leading mortgage providers for up to 90 per cent loan options, with Abu Dhabi Commercial Bank being the preferred provider.

Commenting on the tie-up with Dubai Islamic Bank, Mr Haytham Al Tajir, Chairman, Al Tajir Real Estate, said: ‘We have had serious enquiries on the need for Shariah-compliant financing options from buyers. Our tie-up with Dubai Islamic Bank, the leading name in Shariah-compliant banking, will provide customers additional financing options to choose from.’

He further added: ‘We have received overwhelming response for Fortunato. In a short span of time, we have sold out 85 per cent of the total 320 units in what would become one of the finest residential communities in Dubai.’

Fortunato will have studio, one bedroom, two bedroom, penthouse, duplexes, garden houses, town houses and loft house options. Each of the options will have fine finishes, careful architecture planning that will ensure that no space is wasted and provides total comfort. Old world charm will be merged with every modern amenity to give residents a pleasant and safe neighbourhood.

The value of the development is estimated to be AED320 million.

As part of Jumeirah Village-South, The Fortunato community will have access to promenades, neighborhood parks, a country club, medical facilities, health club, dedicated areas for sports like football, tennis courts, cricket pitch and a community centre.

The total built up area for the project will be approximately 637,686 sq ft.

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