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Dubai Bank offers 99% financing for JBR
- June 25, 2007, 9:49 am
In a milestone agreement, Dubai Bank today announced an exclusive arrangement with Dubai Properties to offer up to 99 per cent financing for the purchase of residential apartments at Jumeirah Beach Residence.
The offer, valid for a limited period, is on the occasion of the official handover of all 6,900 units, and is part of Dubai Properties commitment to provide value added services and convenience for prospective buyers.
The unique offer allows customers to obtain a finance facility with only 1% down payment to purchase 1, 2, 3 and 4 bedroom apartments with either sea or marina view.
Abdul Rahman al Madhloum, Director of Sales, Dubai Properties, said: ‘Dubai Properties aims to provide dream homes with the added value of convenience not only in terms of location but also price. ‘We are proud to join Dubai Bank in offering homeowners the opportunity to purchase apartments in our first freehold residential development at Jumeirah Beach Residence and therefore partnered in this landmark agreement to promote our unique gesture for the repayment policy.’
The ground breaking financing option will be made available only to UAE nationals and UAE residents. Dubai Bank will charge a flat processing fee of AED10,000. Finance facility repayments will span a maximum period of 20 years based on the eligibility criteria.
Abdul Aziz Al Muhairi, CEO, Dubai Bank, said: ‘This strategic alliance is a milestone in the real estate market and we are glad that we are the preferred finance provider for the prestigious JBR freehold residential development from Dubai Properties.
The financing offer of 99% is a premium offer from Dubai Bank, supporting the increasing demand and customer preferences for high value lifestyle projects offered by Dubai Properties. Through this latest offering, Dubai Bank has continued its trend of introducing unique and value packed, ethical and Shari’a Compliant solutions to customers, and once again honored its commitment of being a customer centric bank.
Jumeirah Beach Residence has been an extremely popular development not only among investors but also home owners, who are looking for a refreshing lifestyle by the beach. This limited offer will provide a unique opportunity to own your dream home in one of the most sought-after developments in Dubai.’
The beachfront community of Jumeirah Beach Residence is the largest single phase residential development in the region; it features 36 residential towers, four hotel towers and four beach clubs. It is a uniquely-themed environment combining the styles of Mediterranean and local architecture, complemented by landscaped plazas; children play areas, fountain and courtyards.
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