Doha: General Manager of Asteco David Oayda met with Mohan Sreenivasan over the latter's decision to buy two of the 66 apartments available in stage one of danatQatar, situated within The Pearl's Porto Arabia district.
Sreenivasan was attracted by danatQatar's pricing and floor plans compared to other developments, as he sought to 'buy to rent'. The deal clincher was Asteco's construction milestone mortgage. "The mortgage in particular attracted me to buy a danatQatar apartment. It was flexible and I was reassured by the fact that bank payments were made only on completion of construction milestones. I felt assured that the building would be completed to high standard and on schedule," Sreenivasan said.
The mortgage scheme, devised by Commercialbank (Cb) and funded by Capital Investment, sees banking funds released to developers only on completion and after an independent survey of critical points in the construction stage to time and specification.
Sreenivasan added: "As a potential landlord, it was essential to receive a good return on investment from rental income, so the layout and interior were very important."
Oayda stated: "The important distinction to be made about Asteco is that we are heavily involved throughout the life of a project, from the design phase to pricing and development. Through our expertise we're able to provide distinct added value to our buyers, whether they be homemakers or property investors."
© The Peninsula 2007
