Tuesday, Feb 17, 2009
Gulf News
Dubai: Chapal, one of the leading freehold property developers in Dubai and Northern Emirates, yesterday said it will allow up to one-year extension in payment schedules by property buyers in the company's freehold projects in Dubai and Ajman.
"This announcement is part of 40 Years Celebrations of Chapal's business success. The relaxations are valid for 40 days. Existing clients of the company participating in this offer, may also receive further waiver of any penalty charges that are normally applied for late payments," the company said in a statement.
"Chapal's commitment and care for the community is at the forefront of our policy decision making. Noting the prolonged effect of current economic down turn on end user, we felt that there was a genuine need to support apartment and villa buyers in our projects," said Ahmad Chapal, Executive Director.
The extension in payment schedules will benefit thousands of investors and property end users who booked apartments and villas in Chapal's freehold projects in Dubai Sport City, Jumeirah Village Dubai, Emirates City Ajman, Emirates Lakes Towers (Ajman) and Chapal Flora Residences (Ajman).
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