An announcement was made on Sunday of a new joint property offering by Amlak Finance and Emaar Properties for 'The Beauport' tower, located at the Marina Promenade complex of the Dubai Marina.
Up to 96 percent of property value financing will be offered by Amlak in the new Beauport tower, along with a four percent down payment option until the unit is transferred to the buyer, according to Khaleej Times. Buyers will also have the opportunity to acquire loan tenors of up to 25 years at an annual rate of 6.5 percent.
This is the first such offer of its kind in the UAE.
"This special offer from Emaar and Amlak allows more opportunities for potential buyers and offers greater flexibility," explained Emaar's Assistant Director of Sales, Bahiya Kayed.
"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 Deputy CEO of Amlak Finance, Shahli Akram.
"Offering 96 per cent finance is great value-added for our customers. We are confident that prospective home buyers will welcome this unique offer," he added.
'The Beauport' will offer one bedroom apartments starting at Dh733,888. The project is currently under construction and is due for completion in January 2008.
