Emaar Properties Partners With Standard Chartered Bank To Offer Two Easy Home Finance Options

Emaar Properties has partnered with Standard Chartered Bank to extend two easy home finance packages for all its projects in Dubai that will be delivered in the next nine months.

Standard Chartered Bank will offer two mortgage products – the Asset Back Lending (ABL) Product and Standard Mortgage Product (SMP). The Asset Back Lending (ABL) Product offers an easy loan of up to 40 per cent of the property price with mortgage of AED 100,000 to AED 2.5 million will be provided for a tenure of 3 to 25 years.

The Standard Mortgage Product offers a standard loan of up to 75 per cent of the property price. Potential end-users and customers can obtain financial support from AED 150,000 to AED 10 million for a tenure of 3 to 25 years.

The home finance options will cover an extended portfolio of Emaar projects including apartments and villas in Dubai in prime locations such as Downtown Burj Dubai, Dubai Marina, Arabian Ranches and Emirates Living. The ABL easy loan is particularly tailored for current investors and end-users seeking financial support to complete the remaining payments before handover, while the standard mortgage will appeal to all potential home-buyers.

Mr Ahmad Al Matrooshi, Managing Director – UAE, Emaar Properties, said: “The partnership between Emaar Properties and Standard Chartered Bank is a huge confidence booster for Dubai’s property sector, as it marks the strengthening of liquidity levels. Emaar has always been at the forefront of industry-leading initiatives and this collaboration will further invigorate the market and strengthen investor confidence.”

He added: “The two easy mortgage plans are tied in for the projects that are to be delivered in the next nine months. The ABL product, an easy loan, particularly underscores our commitment to support investors who have been affected by the unprecedented challenges of the global financial crisis.”

Commenting on the partnership, Chris de Bruin, Head of Consumer Banking, Standard Chartered UAE said, "This is an exciting opportunity for Standard Chartered to broaden the core range of our home finance solutions which are offered by us in both conventional and Shariah compliant varieties. The introduction of this new line up is part of the larger consumer banking concept that Standard Chartered has created specifically to be more customer centric.”

Potential customers can visit the Emaar Sales Centre within Downtown Burj Dubai or the nearest Standard Chartered Bank branch located at Emaar Business Square and complete the formalities to avail of the mortgage. They can also call toll-free 800-EMAAR (36227) or the Standard Chartered Bank hotline at 600-522288 for more details. Customers can also email at home.loans@sc.com to fix an appointment with SCB’s Home Loans Sales Representatives.

Emaar has already handed over several thousand homes in Dubai. World-class villas and apartments in integrated communities with all lifestyle amenities are being developed in Downtown Burj Dubai, Arabian Ranches, Dubai Marina and Emirates Living – the four Emaar communities.

Sherwoods auction offers exciting investment opportunities in premium locations in UAE

Sherwoods Independent Property Consultants has announced that it will conduct an auction on Thursday (June 04, 2009, 6.30 pm) at The Grand Hyatt Dubai, on the sidelines of its participation in the World Property Show, for the public sale of properties in The Palm, Dubai Marina, Downtown Dubai, Jumeirah Lakes Towers, Emirates Living, Umm Suqueim and other prime locations in the UAE. Sherwoods revealed that the property offerings cover a broad price range and feature a mixture of ready-to-use, nearly completed and off-plan residential and commercial units, as well as a number of premium plots, including one just outside Terminal 2 that is available for GCC residents only. Iseeb Rehman, Managing Director, Sherwoods Independent Property Consultants said: "This is going to be a very exciting opportunity for investors and property buyers to take advantage of competitively priced offerings as around 25 premium properties in prominent locations in Dubai and Abu Dhabi will be on offer. Sherwoods has prepared a very impressive selection of properties that cater to different price, size and other requirements of both investors and end-users. Moreover, a number of the properties also offer financing options, providing customers a truly comprehensive range of choices."The ready-to-use commercial offerings include select office units in Executive Towers, the first commercial tower to be handed over in Business Bay. The auction also gives more buying options with off-plan opportunities in the highly touted Sky Tower in Abu Dhabi’s Al Reem Island, as well as office units in the Armada Towers, which is in the final stages of construction in Jumeirah Lakes Towers.Residential units to be auctioned off include completed villas and townhouses in Jumeirah Village, Meadows and other prime residential locations, as well as a wide selection of ready-to-use apartments in Emirates Crown – Dubai Marina,  Foxhills in Uptown Motor City and other popular urban destinations in the UAE. Investment opportunities for off-plan and nearly completed residential projects are also available in Al Reef Apartments in Abu Dhabi’s Al Reef Downtown, Marina Quay East in Dubai Marina, and other prominent locations in Dubai.Sherwoods also disclosed that it will hold a charity auction as one of the highlights of the event. The money raised during the fund-raising activity will be donated to the Dubai Centre for Special Needs. The special activity, which is supported by the Yacht Club and Polo Club, will auction off some exceptional artwork created by child artists.Meanwhile, Sherwoods revealed that it will showcase premium investment prospects in London, Dubai, Abu Dhabi, Ras Al Khaimah and India during its participation at the World Property Show. Among those lined up for the exhibition are Arlington Street, an exclusive luxury apartment with a prominent location in London; The Cove in Ras Al Khaimah; The Meadows, a highly accessible and secure gated community in Dubai; and a selection of properties in India developed by Jaypee Greens that includes Suncourt, Kalisto Town Homes, Mooncourt, Wishtown Klassic and Pavillion Heights. Sherwoods will also provide Search and Acquisition services during the event for projects such as in Kensington and St. Georges Hill in London.Founded in 1988 in the UK by Iseeb Rehman, Sherwoods has grown to become one of the leading international real estate companies. Sherwoods has established several international branch offices in the UAE, UK, France, and soon in other key locations around the world. The company offers a diverse range of services, including search & acquisition of properties; development consultancy, land appraisals and valuation; sales & lettings of residential/commercial property; new home sales; residential & commercial property management services; legal, tax and insurance services; and mortgage & remortgage. 

Equss Jewellery To Open Their First Dubai Boutique At Sunset Mall

Dubai Investment Properties (DIP), one of the leading real estate developers in UAE, today announced that Equss Jewellery has chosen Sunset Mall as their first-to-market retail destination in Dubai. The Australian fashion jewellery brand plans to open a flagship outlet at Sunset, which will feature its wide range of fashion jewellery and accessories made in sterling silver and 18ct gold.

“Dubai is the center of fashion and haute couture in the Middle East. Our objective is to position our brands at prime locations, where customers will be able to appreciate the quality of craftmanship and variety of designs Equss brings to them,” says Rajkumar Pancholia, of Federal Arabian Agency/Arabian Trading Agency.

“Sunset Mall, with its unique location in Jumeirah, gives us an ideal ambience to market the new range of Equss jewellery. We strongly believe that we have an array of exquisite designs that will appeal to Sunset’s customer profile of individuals who appreciate the finer details in life. Sunset has several five-star hotels in its vicinity, which is another plus point, as it will not only attract the local affluent Arab and expatriate community but tourists as well,” Mr. Pancholia adds.

Equss’ jewellery designs breathe inspiration from different cultures across the globe. Their collection, which is perfect for both everyday wear and special occasions, comprises of Tahitian pearls, brilliant diamonds set in 18 K gold or sterling silver, and sparkling crystals and cultured pearls to dazzle and capture attention at any event. Fresh, eye-catching designs have been applied to Equss watch collections and leather accessories, catering for consumers who are conscious of both quality and latest fashion trends. Earrings, bracelets, pendants and necklaces are created in a wide range of styles and designs to fit every budget.

Apart from Equss, Sunset has signed on several leading global brands. Sunset Mall, which is set to soft launch in September 2009, will host over 97 outlets with a strong retail mix, including high couture boutiques and concept stores. The mall will provide a unique shopping environment for customers and fashion connoisseurs of Dubai. The development will be home to an exclusive ‘Art arcade’, where fine art galleries and auctioneers will showcase some of the best traditional and contemporary fine arts. International cuisine restaurants will tickle the taste buds of the gourmet lovers.

Liberty House Offices Pre-Inspection Commences

ETA Star announced the commencement of the pre -inspection of the offices in Liberty House. Designed to be a distinctive and prominent architectural landmark in the Financial District, the soaring forty-two storey structure consists of eight floors of spacious open plan offices, above which are twenty nine floors of luxurious apartments. With close to 140 offices and 220 residences, Liberty House stands tall at one of the prime locations in Dubai.

The offices area starts from 649 Sq ft . The majority of the office space is arranged around a central atrium space providing both light and activity throughout the building. The regular structural and planning grids are based upon international standards which have been applied with a pragmatic approach, allowing for units as small as 80m2 and 100m2, but with the flexibility to combine multiples of these modules up-to and including whole floors or blocks, whilst maintaining a high level of security.

Floor plate layouts permit multiple options for the provision of pantries for the use of al tenants no matter what office configuration has been adopted. Level 8 of the South-East wing offers the option for a dedicated restaurant and roof terrace that may be utilized for exclusive corporate functions and events. The roof terrace at Level 9 of North-East wing has provision for jogging track and fitness areas to revive at the end of the day.

Mr. Abid Junaid stated that, “Spacious & lively main entrance lobby zone with state-of-the-art amenities and retail facilities will be natural greeting and meeting point. The second zone is at Concourse Level, combining extensive public open space with covered and Atrium areas, and incorporating superior retail, and food and beverage outlets offering key retail and quality dining opportunities that could be enjoyed by offices once they begin to function”

TDIC Secures Mortgage Agreements With Leading Financial Institutions

Tourism Development & Investment Company (TDIC) today announced that it has secured a number of mortgage financing agreements, with some of the UAE’s largest banks and leading financial institutions for real estate on Saadiyat Island, a natural island just 500 metres offshore Abu Dhabi City.

Abu Dhabi Finance, Standard Chartered Bank, Abu Dhabi Commercial Bank, National Bank of Abu Dhabi and Mashreq Bank can now offer potential homeowners looking to buy real estate on Saadiyat with a range of special mortgage products, including finance up to 85 per cent and tenure from three to thirty years.

Lee Tabler, TDIC’s CEO said, “The financing agreements secured with these institutions represent an important step in our plans to turn Saadiyat Island into a destination of world renown. They not only provide potential home owners with an extremely attractive opportunity to own property on one of the UAE’s prime locations but also demonstrate that, despite the current financial climate, Abu Dhabi is still a viable and attractive investment opportunity.”

ADCB CEO, Ala’a Eraiqat commented “We are proud to be part of this strategic agreement with TDIC and to introduce an attractive mortgage scheme for our customers, offering up to 80 per cent loan for tenures up to 25 years. Abu Dhabi has quickly risen to become one of the world’s leading investment markets while building its reputation as an international tourism and business hub. In ADCB, we endeavour to explore the most viable opportunities to enhance the Emirate’s economic future and help its sustainable growth in all fields.”

Abu Dhabi Finance has developed ‘Essence’, a product that combines a number of very attractive features and benefits including a loan to value (LTV) of 85% with a loan tenure running from three to thirty years, making it one of the best products in the market. Abu Dhabi Finance CEO, Philip Ward said, “As a new force in the Abu Dhabi mortgage market, we are extremely proud to be associated with the groundbreaking developments that TDIC is bringing to the Emirate. This is one of many attractive new developments taking place across the Emirate in the coming years, reinforcing even further our view that the time is right to buy property in Abu Dhabi.”

TDIC is one of the first Abu Dhabi developers that Mashreq Bank has formed an agreement with. Its offer terms of up to 80 per cent of the market value of the property and tenures up to 240 months. Ali Moosa, General Manager, Mashreq Abu Dhabi commented “Mashreq has always taken the lead in offering innovative products and services in the UAE. As a local bank, we are committed to meeting and exceeding our customers’ demands across all emirates and are happy to be spearheading our mortgage initiative in Abu Dhabi through this partnership with TDIC as they develop Saadiyat Island.”

National Bank of Abu Dhabi (NBAD) will provide Saadiyat Island investors mortgages with flexible terms, competitive interest rates and fast approvals. “NBAD believes customers should be at the core of each business to ensure success. Therefore, we are constantly seeking new ways to provide our valued customers with the highest standards of service. At NBAD, we have excellent products that are aimed directly at end users for TDIC’s flagship Saadiyat Island project,” said Mr. Saif Al Shehhi, Senior General Manager of NBAD’s Domestic Banking Division.

Standard Chartered Bank is the first international bank to provide competitive rates to finance TDIC residential properties, lending up to 75 per cent loan to value ratio for tenures up to 25 years. Jeremy Parrish, Standard Chartered Bank CEO, Abu Dhabi and Al Ain, said “With a presence of over 50 years in the UAE, Standard Chartered is deeply committed to the development of Abu Dhabi and is delighted to support TDIC as a leading provider of mortgage solutions for its iconic developments. In addition to our recently launched Islamic home finance product, we will continue to roll out a range of financial solutions at extremely competitive rates for our Abu Dhabi clients.”

Saadiyat Island is being developed by TDIC to become a complete visitor and residential destination. The 27-kilometre natural island is the largest single mixed-use development in the Arabian Gulf. Saadiyat will offer a lifestyle, with premium educational, leisure and cultural experiences combined in safe and accessible communities. There will be a wide range of luxurious living and investment opportunities including waterfront villas, town houses and apartments.

The first phase of Saadiyat will open officially to the public in the fourth quarter of 2009. It will mark the opening of the 10-lane Saadiyat Bridge, the emerging landmark which will link Abu Dhabi city with Saadiyat Island. The bridge, one of the largest infrastructure projects in Abu Dhabi emirate, will provide swift and smooth access to the signature destination. Visitors may then visit the only seaside golf course in the Arabian Gulf. The 72-par Saadiyat Beach Golf Course, designed by sporting legend Gary Player, boasts several beachfront holes and is scheduled to open later in the year.

Saadiyat’s residential offerings are on track. Construction is advancing on the luxurious villas, which are the cornerstone of the first phase of the exclusive Saadiyat Beach Residences community. A range of three- to eight-bedroom villas, some featuring a private gym, elevator, swimming pool and movie theatre, are on schedule for handover in the second quarter of 2011.