Jul 13 2011 |
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Tamweel Dh5m offer to 'select' foreigners
Also launches Home Refinance plan for owners
The Non-residents Programme will make home finance available to select overseas investors looking to purchase residential property in the UAE.
Tamweel 's Home Refinance Program for fully paid properties is designed to help owners unlock the value in their homes.
The product is open to salaried individuals from select countries.
Varun Sood, Acting Chief Executive Officer of Tamweel , said: "The recent announcement by the Federal Cabinet will bring about increased certainty to foreign property investors which will in turn provide a boost to the UAE real estate sector. In launching this product now, Tamweel is well positioned to meet the anticipated uplift in demand from overseas investors."
Tamweel also launched its Home Refinance Programme which allows salaried and self-employed owners of fully paid properties to acquire finance for up to 50 per cent of the value of their home.
"Home Refinance Programmes are common in many mature markets, such as the UK and US, but relatively new in the UAE.
There is, however, a clear demand from owners of fully paid properties to unlock some of the value in their homes to fund home renovations, children's educations and etc.
The launch of Tamweel 's Home Refinance Programme meets this demand and is in line with our commitment to provide innovative solutions that meet the evolving needs of customers," added Sood.
© Emirates 24|7 2011
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