96% mortgage loan available with Amlak Finance
Loan tenors up to 25 years at 6.5% per annum
1 bedroom apartments from AED 4,782 per month
Offer valid until the end of June at Emaar Sales Centre at Emaar Business Park
Dubai: Emaar Properties today announced their partnership with Amlak Finance, to offer buyers its latest property offering, The Beauport tower within the Marina Promenade complex at Dubai Marina. For the first time in the UAE, Amlak will be offering finance for up to 96 per cent of the property value with a 4 per cent down payment and a zero payment option until handover of the unit.
Following the successful launch of the first tower, The Paloma at Marina Promenade earlier this year, Emaar is now unveiling the second tower at Marina Promenade, The Beauport with one bedroom apartments starting from AED 733,888. With Amlak's special financing scheme, potential buyers can own a one bedroom apartment for as low as AED 4,782 per month and two bedroom apartments for as low as AED 10,000 per month.
To learn more about this financial opportunity, potential buyers are invited to visit the Emaar Sales Centre located within Building 1 at the Emaar Business Park from 9am to 7pm from Sunday, June 4 to Friday June 30, 2006. Amlak credit and sales staff will be on hand to address any queries and to process applications for interested buyers.
With its location directly opposite the upcoming prestigious Dubai Marina Motor Yacht Club, the Marina Promenade six high end residential towers offer breathtaking views of the marina. Centered at the widest bay of the Marina where it stretches more than 300 metres, the complex will mirror the successful lifestyle that Marina Walk offers residents with an endless boulevard of multi-cuisine dining restaurants, coffee shops and retail outlets.
At Marina Promenade, each tower has a distinguished lobby design, locker storage area for tenants' rentals, concierge facility, centralised household waste removal, on site mail service and around-the-clock maintenance and security service. The towers are connected by a common landscaped podium structure that has a central entrance leading to the parking levels and steps leading to the walkway path.
Bahiya Kayed, Emaar's Assistant Director of Sales said: "Dubai Marina has grown to become one of Dubai's premier lifestyle options and leisure destinations and today we are giving our buyers another opportunity to invest in premier property. This special offer from Emaar and Amlak allows more opportunities for potential buyers and offers greater flexibility. We are continually looking at ways to benefit purchasers."
"This is yet another successful project by Emaar Properties and we are glad to provide such an attractive home finance package to potential buyers who are looking for a good investment," said Shahli Akram, Deputy CEO, Amlak Finance.
Akram added: "Offering 96 per cent finance is great value added for our customers. We are confident that prospective home buyers will enthusiastically welcome this unique offer as ultimately this will bring them closer to their dream of owning a home of their own."
Other incentives offered along with the 96 per cent home finance option include loan tenors of up to 25 years at 6.5% per annum. Approval of all loans is subject to Amlak's terms and conditions and home finance approvals will be turned around in 24 hours.
Conveniently located in Dubai's new growth corridor along Sheikh Zayed Road, Dubai Marina is only a few minutes drive away from the Internet and Media Cities, The Montgomerie Golf Course, the American University and five-star beach hotels.
The Beauport is currently under construction and it is due for completion in January 2008. More information can be found at www.emaar.com.
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About Emaar Properties PJSC:
Emaar Properties, the Dubai-based Public Joint Stock Company and No, 1 real estate company in the world, is listed on the Dubai Financial Market and is part of the Dow Jones Arabia Titans Index. The company recently announced that its net profits for the first quarter ended 31 March 2006 reached AED 1.517 billion (US$406.9 million) - an impressive rise on the AED 1.325 billion (US$355.4 million) for the equivalent period. Emaar's net profits for the year ended 31 December, 2005 climbed 180 per cent, to a record AED 4.731 billion (US$1.288 billion). The figures represent a substantial increase on the AED 1.691 billion (US$460 million) for the year 2004.
The company has witnessed tremendous growth since its inception in 1997 and boasts a rapidly growing tenant base with more than 13,000 homes handed over to satisfied customers to date. Currently, it has several major real estate projects under various stages of development in Dubai including Arabian Ranches, Dubai Marina, Emirates Hills, The Views, The Meadows, The Springs, The Lakes and The Greens. The company also owns and manages the Gold and Diamond Park.
Emaar has started construction on its most ambitious project to date, the AED 73 billion (US$20 billion) Burj Dubai Downtown development, which comprises the Burj Dubai - the tallest tower in the world when completed in 2008, The Dubai Mall, Burj Dubai Boulevard, The Lofts, The Old Town, The Old Town Island, The Residences, Burj Views, man-made lakes, landscaped parks and gardens. The company has joint ventures and projects across the region covering Saudi Arabia, Egypt, Syria, Morocco, Turkey, Tunisia India and Pakistan.
Last year the award winning property developer announced plans to aggressively expand the retail sector with investments of over AED 15 billion (US$4 billion) to develop approximately 100 malls in the mega emerging markets of the Middle East, North Africa and the Indian subcontinent. In addition, Emaar has teamed up with Giorgio Armani S.p.A to build and manage 10 Armani hotels and resorts across the world; an Armani hotel will feature in Emaar's flagship Burj Dubai tower.
Recently the company also announced plans to expand its investments into the education and healthcare business. The education initiative will involve the establishment of international schools in the MENA region and India, which will offer premium quality education and an integrated curriculum for students ranging from kindergarten to tertiary levels. Emaar's healthcare diversification will see the company invest around AED 18.35 billion (US$5 billion) over the next decade in the MENA and South Asia markets with the construction of hospitals, clinics and medical centres and the investment in the provision of world-class healthcare services.
While continuing to actively pursue expansion in its core business of innovative, high quality real estate development, Emaar has diversified into related business lines to further build value for its 59,000 shareholders, which includes the Government of Dubai. Emaar owns and manages EMRILL, a joint venture with the UK-based Carillion which provides innovative property and facilities management services. Emaar also holds 30 per cent equity in Dubai Bank, focused on retail and commercial banking and is the majority shareholder in Amlak Finance, UAE's leading Islamic home financing company. For further information, please visit www.emaar.com.
About Amlak Finance PJSC:
Amlak Finance PJSC (Amlak) was established in November 2000 as a wholly - owned subsidiary of its still major shareholder Emaar Properties PJSC (Emaar). The Company ceased to be wholly- owned in 2003 following a tripling of the capital base. An IPO was held in January 2004 and the Company was listed on the Dubai Financial Market in March 2004. Emaar currently owns 45% of the Company. No other shareholder has a stake of 5% or above. As at end of 2004 non-national shareholders held an aggregate 22.8%.
For further information, please contact:
Kelly Home / Nivine William
ASDA'A Public Relations
Exclusive Affiliate of Edelman PR Worldwide in Middle East & North Africa
Tel: (+971 4) 335 5969;
Fax: (+971 4) 335 6080
E-mail: k.home@asdaa.com
© Press Release 2006
