UAE’s Tecom Investments has signed an agreement with Amlak Finance, to offer Shari’a compliant financing options via its Amlak Tatweer programme to all purchasers of freehold Villa Lantana homes in Dubai.

Amlak, the UAE’s first specialised real estate finance provider, will offer financing up to 50 per cent of the property value prior to project handover, with the option to re-finance up to 75 per cent upon completion for tenures of up to 25 years at highly competitive rates, enabling more investors and end-users to become part of the Villa Lantana community.

The agreement was signed by Badr Al Gargawi, chief executive officer, Development & Planning Division, Tecom Investments, and Arif Alharmi, managing director and CEO of Amlak Finance PJSC.

Al Gargawi said: “We are proud to be working with Amlak Finance to provide a Shari’a compliant option for people to own their dream home at Villa Lantana.  A big part of Tecom Investments’ ethos when planning a new development is to engage with our stakeholders to ensure we deliver in line with market and consumer requirements. They told us that they needed a forward thinking, tailored Islamic finance option – and this is exactly what Amlak Tatweer offers.”

The new Villa Lantana development of 440 freehold family villas represents an astute investment opportunity, in part due to its key location in Dubai’s Al Barsha growth corridor in addition to the established reputation of its master developer, Tecom Investments.

Alharmi said: “Amlak is pleased to be partnering with Tecom Investments to offer these tailored and easy financing solutions for those wishing to own a property at Villa Lantana. Our Tatweer product is a perfect match for such an impressive development. We continually strive to provide prospective investors with innovative Islamic finance solutions.”

Villa Lantana benefits from being in close proximity to Dubai’s main arterial roads, allowing fast and easy access to the city’s primary business areas, retail and entertainment hubs. The community is just minutes away from Mall of the Emirates and within a five minute walking distance from the soon-to-be-launched My City Centre Al Barsha. A number of leading schools have also recently opened in the near vicinity.

The contemporary Villa Lantana community also features a well-planned, beautifully landscaped family neighbourhood. Buyers can choose between 17 different villa designs, 11 floor plans and a range of 3-, 4- and 5-bedroom detached and semi-attached family homes. Villas span in square footage from 2,453 sq ft, Built Up Area (BUA), up to 6,082 sq ft (BUA). – TradeArabia News Service