UAE-based Deyaar Development is offering a major investment opportunity to Dubai government employees, providing them with several incentives to become home owners in its Midtown project.

Under this offer, government employees will enjoy a one per cent discount on the total sale value of their new property, while Deyaar will cover the cost of the four per cent Dubai Land Department (DLD) registration fee, said the developer in a statement.

These incentives also come with payment plans that offer downpayments from as low as Dh34,000 ($9,256), with monthly instalments from Dh4,400.

The special package, which ends in the middle of next month, is applicable to homes purchased in Deyaar’s Midtown project, it stated.  

The Emirati developer said the initiative was developed to promote real estate investment among UAE nationals.

An integrated urban community in Dubai Production City, near Sheikh Mohammed bin Zayed Road, Midtown comprises 27 buildings with a built-up area of almost five million sq ft. It features studios, one-, two- and three-bedroom apartments.

Work on the first two phases of the project are 20 per cent complete, with Afnan District comprising 659 apartments, while Dania District has 579 apartments.

Unit prices in Midtown start from Dh680,000 for a one-bedroom apartment, with studio apartments already sold out, it added.

Saeed Al Qatami, the chief executive of Deyaar, said: "Our Midtown development has proven particularly popular with Emiratis, who represent 40 per cent of our investors, further inspiring us to create the opportunity for Dubai government employees to become homeowners in this exciting residential district."

"We have had positive feedback so far, and look forward to providing more UAE nationals with the opportunity to invest at affordable rates," he added.-TradeArabia News Service