Falconcity of Wonders, an ambitious falcon-shaped tourist and recreational city being set up within Dubailand beside the Emirates Road and Al Ain Road, has signed an agreement with Abu Dhabi Commercial Bank (ADCB), to finance properties developed within the project.
The agreement was signed between Salem Almoosa, Chairman and CEO of Falconcity of Wonders, and Eirvin Knox, CEO of Abu Dhabi Commercial Bank. The strategic partnership between the two entities is aimed at providing an attractive finance option to investors of the various properties being developed within Falconcity of Wonders.
The mortgage scheme is open to all UAE nationals with a minimum salary of AED 8,000, and all expatriates with a minimum salary of AED 10,000. Salaried applicants can avail up to 90 per cent financing, while self-employed applicants could receive up to 75 per cent financing. The mortgage tenure extends up to 25 years and repayment of the loan will start only after buyers take possession of their property, with a maximum monthly payment of AED 500 until handover.
Salem Almoosa said, “Falconcity is a landmark development of unprecedented scale, and making available attractive and flexible financing options is an integral part of our commitment to provide the project’s investors the very best services. Through this mortgage agreement with Abu Dhabi Commercial Bank, we provide an opportunity to both UAE nationals and expatriates to own property at Falconcity with minimum financial burden.”
Arup Mukhopadhahy, Head of Retail Division, ADCB said “We are pleased to be associated with a prestigious project like Falconcity of Wonders. With financing offers of up to 90 per cent and flexible payback options, this innovative mortgage scheme brings Falconcity properties within the reach of a larger audience, affording them an easy and affordable means to own property at this exclusive address.”
Falconcity of Wonders is a unique, purpose-built community project featuring structures based on the architectural wonders of the world, such as the Pyramids, the Hanging Gardens of Babylon, the Eiffel Tower, the Taj Mahal, the Great Wall of China, the Leaning Tower of Pisa, and the Lighthouse of Alexandria. The project also includes famous international cities such as Rome, Venice Beirut, India, and New York. Falconcity of Wonders had recently announced the launch of Central Park Towers NY, modeled after the towers surrounding New York City’s world-famous Central Park.
