KM Properties is now offering investors and would-be home owners double the option to finance their new property purchase following the signing of an agreement with financial institution Amlak to offer mortgages for up to 85% on KM Properties projects.
KM Properties already offers finance facilities through National Bank of Dubai. Both finance options are now available on KM Properties’ new launch TAMANI Arts Offices development at Business Bay, and have been announced to coincide with concessions on launch prices.
“We are now offering further incentives for those investors reserving units in the first phase of public sale, and these incentives are compounded by our easy finance options, provided by our Escrow partners, NBD and Amlak. Working in close coordination and in conjunction with real-estate governmental authorities has without a doubt given our investors and partners an extra boost of confidence that KM Properties is one of the few leading private developers that are here to stay,” said Khulood Abdulla Al Rostamani co-founder and Executive Director of KM Holding, parent company of KM Properties.
Mr. Aref Al Harmi, CEO of Amlak, said, “Beside the KM Properties launch on the TAMANI Arts Offices project in the Business Bay area, the financing amounts to real estate projects provided by Amlak are under few considerations. We do consider the ability of the property developer, its projects and its marketing capabilities, and the level of investors’ interests in their projects. Additionally, Amlak has its own technical and engineering teams to assess and evaluate the real estate projects, location and quality. As the property valuation increases, many financing companies will be more than happy to provide financing assistance to these projects.”
“By the end of this year, the available property financial wallet for Amlak will exceed AED 6 billion,” added Aref Al Harmi.
KM Properties recently launched its latest project called Artisan Cluster in Business Bay with a property value of AED 1.3 billion, the company announced that investors who bought properties during the Cityscape exhibition already gained profits of 111% capital gain.
Mr. Marwan Bin Ghalita, Executive Director of RERA, said, “KM Properties is one of the leading developers in Dubai with a good reputation. This company is one of the first developers to register in the Land Department and comply with our new Law no. 8.”
TAMANI Arts Offices is an iconic mix-use complex at Dubai’s Business Bay and forms an integral part of KM Properties’ larger Artisan Cluster. The ground plus 20-storey tower, located near Burj Dubai, proved so popular with investors at Cityscape that 32% of the tower’s units were sold at the show.
The Artisan Cluster, spanning built-up area of approximately two million square feet, is an exceptional development happening near Burj Dubai consisting of clusters of iconic towering structures that comprises of hotels, commercials towers and residential buildings. These structural wonders is designed by Terry Farrell and Partners; whom KM Properties signed a strategic joint venture with in July 2007, the renowned designers of Greenwich Dome in London. The tower designs are truly reflective of an artisan’s love for unique beauty enveloped in varied motifs and themes.
