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Deyaar, DIB in key home financing solutions deal

DUBAI, December 4, 2019

UAE-based Deyaar Development said it has partnered with Dubai Islamic Bank (DIB), a leading Islamic bank in the UAE, to offer customised home financing solutions for its customers keen to buy homes at its flagship Midtown project.

The deal is aimed at helping Midtown home owners to benefit from DIB’s tailor-made home financing plans designed to provide a hassle-free and happy home buying experience, said a statement from Deyaar Development.

Under this arrangement, Midtown customers will be able to make full payment on handover of their property through flexible home financing programmes, with monthly instalments up to 25 years with options for further extention to their home payments at competitive rates and discounted processing fee from DIB, it stated.

On the collaboration, CEO Saeed Al Qatami said: "The timing has never been better for a financing partnership of this kind, with handover of Midtown’s Afnan District ongoing and Dania District set for completion soon. We are pleased to have partnered with DIB to make owning your dream home easier than ever in our flagship project."

Handover of Afnan District, the first of six districts within Deyaar’s Midtown integrated urban development, began in early November.

Located in Dubai Production City near Sheikh Mohammed bin Zayed Road, Midtown is designed with community living in mind, creating a family-friendly environment complete with a wide range of amenities.

Chief of Home Finance Varun Sood, said: "Being the most trusted and experienced sharia-compliant lender in the region and a leading home finance provider in the country, DIB welcomes this opportunity to partner with a reputable and quality focused developer like Deyaar."

"We are constantly striving to provide customers with a hassle-free and happy home ownership experience, and work hand-in-hand with them all through their home-buying life cycle," he stated.

Comprising seven buildings ranging from seven to 16 floors, Afnan District has a total of 659 apartments, including studios, one-, two-, and three-bedroom units, all of which are sold out.

Between Afnan and Dania Districts – with Dania set for completion by the end of 2019 – there is more than 30,000 sq ft of retail area with a wide variety of outlets, including anchor supermarket, nursery, food and beverages (F&Bs) and others such as service providers, health and beauty, fashion, and entertainment.

Midtown’s retail offering will meet the needs of residents and visitors alike, with ample parking available for all. Deyaar is meticulously selecting retail tenants to ensure the best brands and outlet variety throughout the project, said Sood.

Listed on the Dubai Financial Market, Deyaar is one of Dubai’s leading developers, with real estate ventures spanning key growth corridors and prime locations within the emirate.

Over the years, it has delivered an extensive portfolio of commercial, residential and hospitality properties, all offering the highest levels of service and quality.-TradeArabia News Service




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