Property Developers in Dubai start offering finance options for their investors
17/02/2013
In 2012, the finance options offered by some property developers in Dubai have become attractive to those foreign investors in particular in cooperation with the UAE Central Bank that limited the mortgage credit for those property buyers at 50 per cent for the first property they purchased and 40 per cent for more than two units as well.
In fact, there have been a number of realty companies that offered such attractive payment options, including the Modelux Properties which is a Real Estate Marketing Company that is presently offering at least a three-year installment plan for its project named as Axis Residences 2 which is located in Dubai Silicon Oasis (DSO) let its investors to put an initial down payment of 10 per cent & another 15 per cent on handover, and the remaining 65 per cent will be paid within three years; the Deyaar Development, the Emirate’s third biggest publicly-traded Real Estate Company, has also offered the same finance option for its completed residential units in Oakwood Residency which is located in International Media Production Zone (IMPZ) but for as low as AED390, 000, in which each investor needed to make a down payment of at least 20 per cent, while the remaining 80 per cent can be paid in three-year installment plan; and lastly even the prestigious master property developer, Nakheel, it was also offering to investors a finance option for its apartments located in the following developments: Masakin Al Furjan, Al Furjan, Badrah, International City, and Jumeirah Village, in which its buyers were obliged to pay a total of 20 per cent down payment and 80 per cent over a three-year period.
Moreover, as Founder of Value Homes Real Estate Brokers, Rakesh Bohra said that that there was a private investor in its commercial tower in Business Bay District, who was offered with 10 per cent payment in four installments, while the company will hand over the office keys to particular investors who will be then allowed to lease the space; but the remaining 60 per cent needed to be paid within two years or 2 months.
As result, according to Chairman of Global Real Estate Consultancy Firm, Jones Lang LaSalle reported that the residential sale indices have increased around 19 per cent on yearly basis (Y-O-Y) in which the villa market surpassed the sales performance of apartment industry in the previous year.
In fact, there have been a number of realty companies that offered such attractive payment options, including the Modelux Properties which is a Real Estate Marketing Company that is presently offering at least a three-year installment plan for its project named as Axis Residences 2 which is located in Dubai Silicon Oasis (DSO) let its investors to put an initial down payment of 10 per cent & another 15 per cent on handover, and the remaining 65 per cent will be paid within three years; the Deyaar Development, the Emirate’s third biggest publicly-traded Real Estate Company, has also offered the same finance option for its completed residential units in Oakwood Residency which is located in International Media Production Zone (IMPZ) but for as low as AED390, 000, in which each investor needed to make a down payment of at least 20 per cent, while the remaining 80 per cent can be paid in three-year installment plan; and lastly even the prestigious master property developer, Nakheel, it was also offering to investors a finance option for its apartments located in the following developments: Masakin Al Furjan, Al Furjan, Badrah, International City, and Jumeirah Village, in which its buyers were obliged to pay a total of 20 per cent down payment and 80 per cent over a three-year period.
Moreover, as Founder of Value Homes Real Estate Brokers, Rakesh Bohra said that that there was a private investor in its commercial tower in Business Bay District, who was offered with 10 per cent payment in four installments, while the company will hand over the office keys to particular investors who will be then allowed to lease the space; but the remaining 60 per cent needed to be paid within two years or 2 months.
As result, according to Chairman of Global Real Estate Consultancy Firm, Jones Lang LaSalle reported that the residential sale indices have increased around 19 per cent on yearly basis (Y-O-Y) in which the villa market surpassed the sales performance of apartment industry in the previous year.
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