Deyaar ties up with leading banks to offer customers viable financing options
Deyaar Development PJSC, a regional real estate company dedicated to innovation, customer care and long-term sustainable growth, today announced continued strategic partnerships with leading banks to offer highly competitive financing options exclusively to Deyaar customers, including up to 90 per cent financing and repayment periods of up to 25 years.
As part of the strategic partnerships, customers will, subject to meeting the bank’s credit approval requirements, be able to avail special financing schemes for properties developed by Deyaar, enabling them to benefit from favourable repayment terms and quicker approvals. The banks offering these facilities exclusively to Deyaar customers consist of dominant players in the UAE property finance market, including Noor Islamic Bank , Dubai Islamic Bank, Abu Dhabi Commercial Bank (ADCB), RAK Bank and Emirates Islamic Bank.
While the exact terms and conditions of the financing given will vary according to the project and the specific financing requirement, the banks will offer over 80 per cent financing, predominantly on Deyaar’s finished products.
Dubai Islamic Bank is providing up to 90 per cent financing for UAE nationals, while expatriates wishing to purchase a property from Deyaar will avail up to 80 per cent financing. Noor Islamic Bank is offering up to 85 per cent financing for UAE nationals and up 80 per cent for expatriates, ADCB will provide up to 80 per cent finance on all Deyaar projects, and RAK Bank has agreed to provide up to 80 per cent finance on select properties developed by Deyaar.
"These strategic alliances with the UAE’s leading financial institutions further reaffirms Deyaar’s commitment to providing its customers with the highest standards of quality and service and assisting them in securing easier access to credit at a time of restrained liquidity,” said Markus Giebel, Chief Executive Officer of Deyaar. “This demonstrates the confidence and belief that key financial institutions have in Deyaar’s ability to deliver on its commitments.
“Today’s announcement bears testimony to Deyaar’s solid financial performance and strong fundamentals and reinforces its status as a leader in customer care and innovation.”
- UAE: Tamweel, Deyaar sign new partnership agreement
- UAE: Deyaar reports 92 per cent increase in net profits for 2005
- Deyaar announces 100% increase in company’s capital base
- Deyaar seals AED 600 million Mudaraba with Dubai Islamic Bank to fuel strategic growth
- Deyaar reports second quarter net profit of AED 75.40 million