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| 04 December, 2016

Danube properties signs MOU with Bank of Baroda for home financing of Dreamz

Danube properties signs MOU with Bank of Baroda for home financing of Dreamz


Dubai, 4, December, 2016

Danube Properties, UAE’s leading property developer, entered a Memorandum of Understanding with the Bank of Baroda today with an aim to provide home loan for customers of the Dreamz By Danube project against their property purchase. The agreement was signed by Mr Rizwan Sajan, Founder & Chairman of Danube Group and Mr. Suhas D. Sontakke, Dy. General Manager of Bank of Baroda in presence of Mr Anis Sajan, Managing Director of Danube Group, Mr Atif Rahman, General Manager of Danube Properties, Mr Vineet K. Dudeja, Chief Executive of Bank of Baroda-GCC Operations and members of the senior management, bankers, and the media at the Danube Properties Head office.

Commenting on the signing, Rizwan Sajan, Chairman and Founder of Danube Group, said, “We are happy to offer our customers with finance for our Dreamz Project. The primary reason for signing of the agreement is to enable our customers to mortgage their properties and get loans. We hope to have a fruitful partnership with Bank of Baroda and want to ensure that we can provide promising solutions for our buyers.

This MOU is a statement of intent to give customers, a chance to apply for home loans at a rate of interest that is as low as 3.5 percent per annum.

On this occasion, Mr. Suhas D. Sontakke, Dy. General Manager, Bank of Baroda was also present who explained USPs of Bank of Baroda’s Housing Loan scheme. A dedicated Desk has been set up by Bank for speedy sanction of loans to eligible customers and can also be availed from any of the branches of Bank of Baroda in UAE and other GCC countries wherever Bank of Baroda is present.

Dreamz is the first project launched by Danube Group located in Dubai’s Al Furjan neighborhood. The property spans an area of 700,000 Square feet and offer villas with three and four bedrooms. Moreover, the property also houses state-of-the-art amenities including a gym, swimming pool, sauna, children’s play area and much more.

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The Bank of Baroda ranks as one of the top Indian banks present in UAE since 1976. The valuable exchange of professional knowledge and best practices shared in this partnership will significantly sharpen Danube’s Goal toward providing value-added services to their diverse customer base.

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Further information is available at www.danubeproperties.com

About Danube Properties:
Danube Properties made a gallant entry into the property market and declared legendary Indian cricketer Sunil Gavaskar as its brand ambassador. Danube Properties is the brainchild of Mr. Rizwan Sajan, Founder & Chairman, Danube Group; who after thorough research and careful planning with his team, combined with his personal entrepreneurial acumen, decided to form a realty division.

the Danube, known for its supreme quality of construction material, equipment, and home interior supplies, plans to successfully use its prestige and status as an industry leader to provide affordable yet superior-quality property developments, and the company is particularly trying to attract the mid-income section to be its buyers with the launch of a number of projects.

With the entry of Danube Properties as a strong player in the market, the healthy competition has not only intensified, but also playing a role in reducing monopoly of the bigger builders and boost fair pricing and quality service. Dubai's urban landscape is mushrooming with residential projects, which are fast getting purchased by customers. In the light of this market scenario, projects by Danube are immensely successful, and in turn, help the company pursue its other plans.

All Danube Properties' projects have enjoyed phenomenal success since their launch; the affordable prices and flexible payment plan offered, combined with the development's convenient location and its wealth of ultra-modern facilities for 21st-century living, has proved very appealing to buyers.

About Bank Of Baroda:
Bank of Baroda is one of the leading Public Sector Banks in India with over 5,500 branches in India and has a strong presence in UAE since 1976 with 17 Branches/Electronic Banking Service Units serving the Banking needs of customers through differentiated, diverse range of excellent, customer-centric products and services. Bank of Baroda is present in 25 countries with over 100 international branches making it the Indian bank with highest overseas presence.

In the recent years, Bank of Baroda has introduced various need based new product lines, implemented several digitalized technological initiatives and tie up arrangements with big companies particularly in Retail Credit portfolio to operate more efficiently and better serve the customers. Accordingly, MOU is executed with M/s Danube so that buyers of Houses in M/s Dreamz Project of Danube Properties can avail the benefit of affordable Housing Loan at competitive rate of interest over flexible tenor and repayment options specially sanctioned under this tie up arrangement.

© Press Release 2016