Abu Dhabi Finance (ADF), a leading provider of mortgages, has approved a major project by Dhafir Development & Contracting to its portfolio of properties for which it offers mortgages.

Prospective residents and investors of Amaya Towers can now apply for mortgages with Abu Dhabi Finance, and obtain interest rates starting from 5.75 per cent, a statement said.

The two upmarket 30-storey residential towers stand adjacent to the canal in Shams Abu Dhabi, Reem Island and overlook the waters of the Arabian Sea as well as the Saadiyat Island shoreline. The project is due to be completed by the end of 2011.

“We are looking forward to offering our clients even wider reach through our partnership with Dhafir Development & Contracting. The Amaya Towers is joining our extensive portfolio of developments on Reem Island for which we offer mortgages,” said Philip Ward, chief executive officer of Abu Dhabi Finance.

“Dhafir has proven itself to be a reliable quality developer with extensive experience in the real estate market. We are sure this is the start of a successful partnership for us and for our clients,” he added.

Samir Chaghouri, managing partner of Dhafir Development and Contracting, said: “The towers are located in one of the most exclusive spots of the island and will offer residents a comfortable and pleasant lifestyle with the heart of the city at your doorstep but within a more residential community setting.”

“We have also recently opened our show apartment to the public for people to see the quality of finishing and materials we will be providing.”

The development will offer a retail area by the canal and house luxurious one, two and three-bedroom apartments, the statement said.

Abu Dhabi Finance is offering its ‘Essence’ mortgage to prospective buyers – a product which combines the most competitive interest rates in the market, starting from 5.75 per cent, it added. – TradeArabia News Service