Deyaar-Tamweel financing tie-up



Two of the most-recognised names in the UAE property and financial sector have partnered to offer residents a unique opportunity to buy a home in the strategically located Business Bay area of Dubai.

Deyaar Development, the regional real estate company, and Tamweel, the UAE-based Islamic home finance provider, are jointly offering ready units at four Deyaar projects in Business Bay at an optimal flat rate – with no additional fees from either the developer or the finance provider.

As the exclusive home finance provider for this special offer, which will be launched at Cityscape Global 2011 and available for a limited period, Tamweel will extend financing of up to Dh5 million to eligible homeowners, providing approval within 48 hours.

“We are very pleased to partner with Tamweel to provide this exciting offer to UAE residents seeking a new home in one of Dubai’s most-accessible locations,” said Saeed Al Qatami, Chief Executive Officer, Deyaar.

“At Deyaar, we understand that buying a home is one of the most important financial decisions in life, and we would like to make this as effortless and stress-free as possible. Through this partnership, we are able to offer end users an attractive and entirely transparent pricing structure – with absolutely no additional fees.

“As one of the largest developers in Business Bay with a long track record of successfully handing over prime developments,” he added.

“We understand how important transparency, efficiency and quality are to our customers. So we are delighted to be providing just that through this partnership with Tamweel.”

Commenting on the joint promotion, Varun Sood, Acting Chief Executive Officer, Tamweel, said: “At Tamweel, we are always keen to identify strategic opportunities to increase our quality portfolio. We are eager to work in partnership with leading participants in the sector – including, Deyaar.”

Sood added: “Launched to coincide with Cityscape and during this period of increased stability in the domestic property market, this offer provides customers with an opportunity to invest in an apartment in Business Bay at a fair price. Together with our partners Deyaar, we therefore look forward to a strong response to this excellent opportunity.”