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Sorouh Real Estate sign agreement for Escan finance package

- May 28, 2006, 11:45 am

National Bank of Abu Dhabi (NBAD) has signed an agreement with Sorouh Real Estate enabling potential property buyers access to NBAD’s unique Escan home financing package.

The Escan scheme offers loans from AED 150,000 to AED 8 million, and is available for all aspects of property acquisition, extension and maintenance, for a maximum of 25 years.

The minimum loan for non-resident second homers is AED 500,000. Repayments can be made monthly, or annually in the case of investment.

Commenting on the new agreement, Mr. Saif Al Shehhi, General Manager, Domestic Banking Division, NBAD, said ‘As the number one bank in the UAE, NBAD is the first bank to sign such an agreement with Sorouh Real Estate. The scheme is available for both GCC Nationals and expatriates, and is currently limited to Abu Dhabi (for investment) and Dubai (for investment and owner occupation), but applications for other Emirates will be considered.’

The new joint programme was introduced to potential clients at Sorouh’s recent launch event for their new Al Shams project. Shams Abu Dhabi is the cornerstone of Sorouh’s property development activities. The property will include a core of residential buildings, supported by commercial, institutional, recreational and healthcare facilities as well as the hotel sector.

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