Deyaar, DIB join hands to provide home financing solutions
Midtown customers will be able make full payment on handover of their property, with monthly installments up to 25 years
Dubai Financial Market-listed property developer Deyaar Development has partnered with the UAE’s largest Islamic bank – Dubai Islamic Bank (DIB) – to offer customised home financing solutions, which ease home ownership for Deyaar’s flagship Midtown project.
According to the company, DIB’s flexible home financing programs will enable Midtown customers to make full payment on handover of their property, with monthly installments up to 25 years, as well as options to further extend their home payments at competitive rates and discounted processing fees.
Handover of Afnan District, the first of six districts within Deyaar’s Midtown integrated urban development, began in early November.
The Midtown development is located in Dubai Production City near Sheikh Mohammed bin Zayed Road.
Comprising seven buildings ranging between seven and 16 floors, Afnan District has a total of 659 apartments, including studios, one-, two-, and three-bedrooms, all of which are sold out. The Dania District is set for completion by the end of 2019.
Afnan and Dania Districts include more than 2,787m2 of retail area, with outlets including a supermarket, a nursery, F&Bs, and others service providers such as health, beauty, fashion, and entertainment.
Speaking on the collaboration, chief executive officer of Deyaar, Saeed Al Qatami, said: “The timing has never been better for a financing partnership of this kind, with handover of Midtown’s Afnan District ongoing and Dania District set for completion soon. We are pleased to be partnered with Dubai Islamic Bank to make owning your dream home easier than ever in our flagship project.”
Chief of Home Finance at Dubai Islamic Bank, Varun Sood, said: “We are constantly striving to provide customers with a hassle-free and happy home ownership experience, and work hand-in-hand with them all through their home-buying life cycle. Reflective of this philosophy is our new positioning “Experience the Happy Way Home” which is built around not just realizing the life-long dream of home ownership, but also doing so in the most convenient and pleasant manner.”