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Dubai, UAE: Emaar Development, the global developer, has partnered with Noor Bank, a leading Shari’a-compliant bank in the UAE, to offer an exclusive, fast-track home financing programme for UAE residents and international investors.
Noor Bank’s Shari’a compliant financing offer will provide guaranteed home finance of up to AED 5 million for investors with extended tenor of up to 25 years covering 50 per cent of the total value of off-plan property in Dubai at best in class rates.
The facility is available across an extensive range of residences in Downtown Dubai, Dubai Creek Harbour, and Dubai Hills Estate that are offered for sale with a 50:50 payment plan. Investors only have to pay 50 per cent before handover with the remaining 50 per cent to be paid conveniently through the home finance offer by Noor Bank, upon handover.
Ahmad Al Matrooshi, Managing Director of Emaar Properties, said: “Dubai’s strong fundamentals make investment in the city’s real estate sector a promising value proposition for investors. With significant interest among international investors in purchasing Emaar’s residences in Dubai, the new guaranteed mortgage for expatriates and global investors will make their home financing requirements effortless. The financing program is available for homes in some of the most desirable destinations in the city including in Downtown Dubai, Dubai Creek Harbour and Dubai Hills Estate, which are conveniently located and have world-class amenities that add to the quality of life of the residents.”
Mufazzal Kajiji, Head of Retail Banking of Noor Bank, said: “Noor Bank’s home finance partnership for Emaar’s investors is a landmark step forward. Noor Bank is committed to providing innovative Shari’a-compliant home finance solutions, and offering unmatched convenience, flexibility and value to the investors targeting investments in iconic Emaar projects. We are confident that this partnership will also go a long way in positively contributing to the future growth of the real estate sector in Dubai.”
Girish Advani, Head of Assets, Retail Banking of Noor Bank, said: “We are extremely pleased with this partnership with Emaar. As Dubai underlines its credentials as a global investment hub attracting numerous investors each year, we have curated an attractive proposition allowing residents and non-residents to secure adequate home finance solutions for a plethora of Emaar projects in Dubai.”
Noor Home finance solution for Emaar is open for all residents in the UAE and international investors who are less than 65 years of age. The special program allows salaried and self-employed investors to get quick financing of up to 50 per cent of the total value with hassle-free documentation.
Dubai offers the most competitive rates for premium residences compared to global cities. Downtown Dubai is among the most sought-after destinations by investors underlined by icons such as Burj Khalifa, The Dubai Mall, The Dubai Fountain and Dubai Opera. Dubai Creek Harbour is a 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, in addition to featuring Dubai Square, the retail metropolis of the future. Dubai Hills Estate is a vast and serene golf course neighborhood in the heart of the city that is also home to the Dubai Hills Mall.
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. All the sales centres are open from Saturday to Thursday, 9.30am to 7pm, and on Fridays from 2 to 7pm in Downtown Dubai and Dubai Hills Estate 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.
For more information on Emaar:
Kelly Home | Nivine William
ASDA’A BCW
+9714 4507 600
kelly.home@bm.com | nivine.william@bm.com
About Noor Bank:
Noor Bank began operations, in Dubai, in 2008, as Noor Islamic Bank. It is a full-service bank delivering the broadest range of products for its customers, with an emphasis on unique and personalised service. Noor Bank is governed by the Shari’a Supervisory Board, with extensive experience and expertise in legal, financial and banking-related matters. Noor Bank is rated “A-” IDR with a stable outlook by Fitch Ratings. The corporate shareholders of the Bank are The Office of the Crown Prince of Dubai (25.73%), the Investment Corporation of Dubai (22.71%) and the Emirates Investment Authority (4.7%). The remaining shares are beneficially held by individuals who each own less than 5% of Noor Bank. For further details, please visit: www.noorbank.com or call 800 6667.
For media enquiries on Noor Bank, please contact:
Leah Majorie Banda
Noor Bank
Susan Shoury
APCO Worldwide
Mobile: +971 55 965 3647
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