StanChart offers ‘easy loan’ to customers of Dubai Properties

Dubai Properties, a subsidiary of Dubai Properties Group (DPG), yesterday said it has tied up with Standard Chartered Bank to offer “easy loan” mortgages to prospective buyers and existing owners of residential units at the Executive Towers in Business Bay.

As part of the offer, the bank will directly evaluate the customer’s property through independent surveyors and offer the finance with minimal documentation requirement from the client.  In order to benefit from the mortgage product, customers must be resident in the UAE and should meet the minimum eligibility criteria of the bank.

Mohamed Binbrek, Group CEO of Dubai Properties Group, said: “Our alliance with Standard Chartered is part of an endeavour to provide our clients with viable loan options. We are focused on leveraging synergies across the real estate sector and aim to continue delivering strong investment values to our customers and give them the confidence and security to invest in the real estate market.”

Standard Chartered’s “easy loan” mortgage product offers financing of up to 40 per cent of the property price. Customers can take advantage of the financing terms for the final payment from Dh150,000 to Dh10 million for tenure of three to 25 years on Executive Towers residential units.

Customers also have an option of financing their land registration charges as part of the loan.

The Executive Towers comprises 10 residential towers offering 2,211 residential units, one office building (with 187 office suites), 60 villas located at the plaza level, eight boutique office villas and a three-level podium that offers parking bays for 4,500 vehicles. Aspect Tower is the first freehold boutique office tower in the Executive Towers complex.

 

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