Properties Investment, a joint venture between Dubai Investments and leading UAE developer Union Properties, has signed a strategic deal with top real estate financier Amlak Finance, for its Green Community project in Dubai.

As per the deal, Amlak will offer attractive property financing of up to 50 per cent of the property value and tenure of 25 years for customers in the Green Community West Phase Three project within Dubai Investments Park (DIP), which encompasses 210 townhouses as well as 16 duplex apartments.

The agreement with Amlak Finance is aimed at offering its potential as well as existing customers the ease of property finance within the project, stated Ahmad Al Marri, the general manager of Union Properties, after signing the deal with Arif Alharmi, the managing director and chief executive of Amlak Finance.

"The Sharia-compliant financing scheme tailored by Amlak for this premium development enables more investors and end-users to become part of the community," said Al Marri.

Amlak will offer property financing to salaried or self-employed UAE residents and non-residents, subject to terms and conditions, he added.

The Green Community West Phase Three masterplan comprises two recreation blocks including swimming pool and services, squash court and a community hall. The development also includes a retail area.

Covering 67 lush hectares of residential, leisure, retail and commercial outlets, the Green Community offers modern and beautiful surroundings with natural greenery.

On the deal, Alharmi said: "We are very pleased to be collaborating with Properties Investment for their Green Community development."

"Amlak is committed to providing innovative and leading Sharia-compliant services and we look forward to providing these to the Green Community residents, he added.-TradeArabia News Service