Mohammed Bin Rashid Al Maktoum City, District One has announced a strategic partnership with Dubai Islamic Bank (DIB) to offer customers an exceptional extended payment plan for its luxury apartments and villas.

A luxurious and elegant lifestyle community, Mohammed Bin Rashid Al Maktoum City, District One is located minutes away from Downtown Dubai. It brings together a 7-km crystal lagoon, a 14-km boardwalk, 8.4-km cycling and running track, sweeping parklands and breath-taking architecture.

It also offers the most central freehold villa and apartment properties in the heart of the city’s center.

Under the flexible payment plan, customers can get up to 80 per cent financing for ready and off-plan units. A refinancing option is also available, said a statement from project developer Meydan.

With low-profit rates of 3.74 per cent, the offer entails a complete basket of home financing solutions, it stated.

The profit rate is based on reducing balance and is controlled by Eibor. The payment plan also offers various solutions for non-resident and multiple property owners.

Saeed Humaid Al Tayer, the chairman and CEO of Meydan Group, said: "We are proud of our partnership with Dubai Islamic Bank in this specific project and we look forward to future tie-ups as well. We have already delivered 300 villas and we are very pleased with the interest that potential home owners and investors have shown in it so far."

"We are eager to provide more people the opportunity to choose a future life at Mohammed Bin Rashid Al Maktoum City, District One," he added.

DIB Group CEO Dr Adnan Chilwan said: "The real estate sector is and always will be a key driver of emerging economies around the world and the UAE is no exception. As the largest home finance provider in the UAE, DIB is a key player in the urbanisation of modern Dubai and we actively seek out projects that are aligned to the quality lifestyle that our growing customer base craves."

"Following this strategy, we are proud to partner with Meydan Group for its prestigious Mohammed Bin Rashid Al Maktoum City, District One project destined to become an iconic development in Dubai," he added.-TradeArabia News Service