Abu Dhabi Finance (ADF), the Emirate’s leading new home finance provider, will start offering mortgages for Green Emirates Properties, which extends ADF’s reach to cover almost 75 per cent of the property market in Abu Dhabi.

Initial developments covered by the agreement include Marina Blue and Ocean Terrace in Marina Square on Al Reem Island.

ADF is already offering end-user finance on Sea Shore Villas. This development was handed over by Green Emirates Properties back in 2007 and consists of 236 villas/townhouses.

Highlights of the mortgages will include finance for up to 85 per cent of the property value, a maximum tenure of 30 years up to an upper age limit of 70 at loan maturity, and a debt service ratio of 55 per cent.

Abu Dhabi Finance also offers some of the most flexible mortgage repayment options in the industry which include interest roll up, interest-only, repayment and a combination of repayment and interest-only mortgage loans (‘part and part’ mortgages).

Clients can also repay up to 10 per cent of the outstanding loan amount per year free of repayment charges.

The two developments on Al Reem Island together account for 829 high quality apartments, and both are expected to be completed by the end of 2009 which means they present an attractive option for prospective owner-occupiers.

“Abu Dhabi Finance will offer our clients an exceptional mortgage option,” said Ibrahim Eskiocak, general manager of Green Emirates Properties.

“Their client service has raised the bar in Abu Dhabi and the mortgages they offer will suit clients from a wide range of backgrounds. The mortgages themselves are innovatively designed with lots of options and flexibility offered as standard,” he added.

“As our developments are nearing completion, many of our clients will be looking at the different financing options available, and we are delighted to be able to introduce them to Abu Dhabi Finance. I am confident it will be a popular choice.”

Philip Ward, chief executive officer of Abu Dhabi Finance, said: “We continue to extend our reach in Abu Dhabi and we are delighted to announce our partnership with Green Emirates.”

“Their developments will appeal to long term investors and owner occupiers from a diverse mix of income brackets, and we will be happy to provide flexible mortgages to suit every need,” Ward concluded. – TradeArabia News Service