Dubai Investors Group announced Thursday the release of a building to the general public in International City with unique financing never seen before in Dubai. In association with Tamweel, the Group is offering a 30% deposit with nothing to pay until hand over of the building.
The official launch will take place at the Grand Hyatt Convention Centre with doors opening at 10am on Friday the 22nd of July for three full days.
“From our research both internationally and locally within our membership we found a huge portion of the investment community could not access the market due to existing payment structures” stated Neil Hickman, COO of Dubai Investors Group.
“There is a large amount of people that really believe in Dubai and its future yet simply do not have the cash reserves to follow existing payment structures. The common way that developments are being financed in Dubai is through the use of the investor’s money in staged payments. This is simply not practical for many, who have to put up to 90% cash down to the developer before they have the chance to raise finance on an off plan unit.”
“The payment structure Dubai Investors Group are offering needs only a 30% cash deposit and then nothing until hand over allowing finance to be raised for the balance.”
“Tamweel’s position in providing this ground breaking finance mechanism can only strengthen its position in the market and further drive the growth of Dubai.”
Patrick Kreuzer CEO noted “We found that UK and German investors who are very used to dealing in European markets were specifically looking for a finance vehicle that mitigated their risk and gave them the option of renting without the full cash outlay”.
“At the same time it allows a major part of the expatriate workforce in Dubai, which predominately makes up the middle level of income earners to add impetus to the market and give something back to the city by becoming investors.”
The freehold property boom in Dubai has seen high end residential projects that have put Dubai on the map as not only a premier tourist destination but the preferred business hub for a region that serves a population of over 1 billion. The AGCC property market is expected to touch US$80 billion in the next four years with the UAE making up a major portion of that.
Nakheel’s International City is a community expected to house over 60,000 residents and already is up and running with the highly successful Dragon Mart. This type of freehold development is much needed in a country whose population is booming from a huge influx of workers to serve the expanding economy. International City is Nakheel’s answer to the needs of the UAE, providing ideal community living with world class facilities in a well balanced urban environment.
Dubai Investors Group has over 26,000 members worldwide that are actively involved in the Middle East property markets. The purpose of the group is to represent the best interest of investors in emerging markets.
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