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- Monthly instalments are as low as AED 2,500 for investment in property worth AED 2.5 million and less than AED 1,000 per month for an AED 1 million investment.
- Investors and end-users can benefit from 25-year financing with zero per cent financing cost for the first five years
- Potential to earn more than 10% Return on Investment
- Zero Loan Processing and Property Valuation fees and zero Dubai Land Department Registration fees
Dubai, UAE: Emaar Development, the global developer, today announced its partnership with Dubai Islamic Bank, the UAE’s largest Islamic Bank, to provide an exclusive and value-added home finance programme for Emaar’s customers. Assuring exceptional value for investors, the home financing is the most attractive and unheard of in the market today for its affordability and potential to earn greater than 10% return on investment.
Amit Jain, Group CEO of Emaar Properties and Dr. Adnan Chilwan, Group CEO of Dubai Islamic Bank, were present amongst other senior officials of both entities at the signing ceremony in Dubai.
With the new home financing solution, owning a home Emaar’s world-class residences in elegantly designed master-planned communities, is more affordable than ever before. Among several benefits, customers can benefit from extended 25-year financing, with zero per cent financing cost for the first five years. Investors and end-users will benefit from the lowest margin throughout the home-finance tenure at 3-month EIBOR plus 1 per cent fixed margin for life. They also benefit from zero processing fee, zero valuation fee and zero Dubai Land Department registration fee.
Furthermore, customers only have to pay 50 per cent of the total price during the construction stage with the rest to be paid only in up to 25 years. With the attractive offer by Dubai Islamic Bank, customers will only have to pay installments as low as AED 2,500 per month when they invest in a property valued at AED 2.5 million, and just about AED 1000 per month for a property priced AED 1 million for the first five years.
The monthly instalments are less than 40 per cent of the rent that many people pay today for similar units, ensuring that they can effortlessly shift from rental homes to an owned-home lifestyle, in Emaar’s prestigious communities in Dubai. For end users, the monthly home finance payment will be reduced by to at least 60% of their monthly rental for a comparable property during the first five years.
Bader Hareb, CEO, Emaar Development said: “The partnership with Dubai Islamic Bank for home finance is truly unprecedented in the value it offers to customers. Large monthly instalments were holding back many aspirant customers from investing in property; now with the extremely low payment schedule, they can own a dream home in Dubai effortlessly and enjoy a superior lifestyle. At Emaar, we are committed to delivering added-value for our customers, and with this offer, they can benefit from the significant returns on their investments in an Emaar home in Dubai.”
“Emaar has been the pioneer in the development of elegant master-planned communities in Dubai over the years,” said Dr. Adnan Chilwan, Group CEO DIB. “With DIB being the largest home finance provider in the country, our exclusive home finance programme for Emaar’s customers offers some of the most attractive home finance solutions in the market today. Convenience, flexibility and value remain our top priorities as we aim to enable and facilitate home ownership in Emaar’s communities for the populous across the nation. Knowing what our customers want and tailoring and customizing products and offerings around their needs has been a key focus over the years, and this new home finance initiative with Emaar is another step that will help us as DIB maintain the edge in the sector.”
Customers can choose their dream home from an extensive portfolio of developments including Downtown Dubai, a most sought-after destination by investors underlined by icons such as Burj Khalifa, The Dubai Mall, The Dubai Fountain and Dubai Opera. Dubai Creek Harbour is another one-of-its-kind modern master-planned destination located along the historic Dubai Creek in the heart of the city, and anchored by the new global icon, Dubai Creek Tower, and featuring Dubai Square, the retail metropolis of the future.
Emaar is also offering a choice of homes across mega-developments such as Dubai Hills Estate, a vast and serene golf course neighbourhood in the heart of the city; Emaar South, a green community located near the Expo 2020 Dubai site and the Al Maktoum International Airport and Arabian Ranches, an established villa community.
For details on Emaar’s residential offering, customers can visit the Emaar Sales Centre at Downtown Dubai, Dubai Creek Harbour Sales Pavilion in Ras Al Khor, Dubai Hills Estate Sales Pavilion on Umm Suqeim Road, Emaar South Sales Centre, and the Emaar Sales Centre in Abu Dhabi at the Al Nahda Tower on 4th Street, Corniche. The centres are open from Saturday to Thursday, 9.30am to 7pm, and on Fridays from 2pm to 7pm at the Emaar Sales Centre in Downtown Dubai only. For more information, call 800 36227 (UAE) or +9714 3661688 (International); or email: Sales_Enquiry@emaar.ae. Also, visit the online sales centre at www.emaar.com
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About Emaar Development PJSC:
Emaar Development is the leading developer of residential and commercial build-to-sell (BTS) assets in the UAE. The company is behind iconic freehold master-planned communities in Dubai including Emirates Living, Downtown Dubai, Dubai Marina and Arabian Ranches, and has delivered over 34,800 residential units since 2002. The company has a sales backlog of over AED 38.50 billion, and is a high cash flow generating business, highlighting the robust fundamentals of the company with more than 28,000 residential units to be delivered.
About Dubai Islamic Bank:
Established in 1975, Dubai Islamic Bank is the largest Islamic bank in the UAE by assets and a public joint stock company listed on the Dubai Financial Market. Spearheading the evolution of the global Islamic finance industry, DIB is also the world’s first full service Islamic bank and the third largest Islamic bank in the world. The Bank currently operates 90 branches across the UAE, is present in seven markets worldwide and is expanding its global footprint to further grow and develop the industry. Serving close to 1.7 million customers, DIB offers its growing consumer base an increasing range of innovative Sharia compliant products and services.
In addition to being the first and largest Islamic bank in the UAE, DIB has a significant international presence as a torchbearer in promoting Shari’ah-compliant financial services across a number of markets worldwide. The bank has established DIB Pakistan Limited, a wholly owned subsidiary which is the first Islamic bank in Pakistan to offer Priority & Platinum Banking, as well as the most extensive and innovative portfolio of Alternate Distribution Channels. The launch of Panin Dubai Syariah Bank in Indonesia early in 2017 marks DIB’s first foray in the Far East, the bank owns a nearly 40% stake in the Indonesian bank. Additionally, in May 2017, Dubai Islamic Bank PJSC was given the license by the Central Bank of Kenya (CBK) to operate its subsidiary, DIB Kenya Ltd.
The Bank’s ultimate goal is to make Islamic finance the norm, rather than an alternative to conventional banking worldwide. DIB has won a range of accolades that are testament to these efforts across diversified areas, including retail, corporate and investment banking, as well as CSR and consultancy services. A clear indication of the bank’s leadership position in the Islamic finance sector, DIB named the Best Islamic Bank in the various prestigious ceremonies. In 2017, DIB won the coveted Global Islamic Business Award in its first edition in the region and was presented to the bank during the 23rd edition of the Business Excellence Awards Ceremony. Reflective of its leadership in the global Islamic finance industry, DIB has also been recognized with a number of accolades in 2018 including Banker Middle East Awards, Dubai Service Excellence Scheme, International Finance Magazine and Islamic Finance News Awards.
For more information, please visit us at www.dib.ae
Please follow us on DIB’s social channels:
https://www.facebook.com/dib.uae/
https://www.youtube.com/user/DubaiIslamicBank
https://www.linkedin.com/company/dubai-islamic-bank
https://www.instagram.com/dubai_islamic_bank/
For more information on Emaar, please contact:
Kelly Home | Nivine William
ASDA’A Burson-Marsteller
+9714 4507 600
kelly.home@bm.com | nivine.william@bm.com
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