Emaar offers purchase option for tenants at The Greens
Emaar Properties is offering the tenants at The Greens residential project the option of buying their leased home.
- United Arab Emirates: Thursday, February 08 - 2007 at 14:40
- PRESS RELEASE
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| The Greens by Emaar Properties. |
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To assist them with purchase plans, Emaar has joined hands with Amlak Finance to offer 97 per cent of the total cost as home finance support.
'There is a huge demand for quality residences in Dubai and people increasingly prefer to stay in their own homes than pay rents,' said Mr Ahmad Al Matrooshi, Managing Director - UAE, Emaar Properties.
'The Greens is one of only two rental residential developments of Emaar, and there have been several requests from our tenants to buy the homes. We are repaying the trust our clients have placed on us by providing them with the first option of buying the homes they live in.'
Hamptons, the property management services company, will handle the purchases for the tenants and arrange the pre-approved home finance from Amlak. Residents who do not wish to purchase the homes can continue to stay in their homes as tenants.
Emaar has informed all residents of the decision through a letter that also details the price and payment details of the apartments. Residents need to inform of their decision on the purchase within two weeks.
Emaar will continue to manage The Greens community and support the infrastructure maintenance as it does with its other residential projects together with the help of home owner committees.
Log in to request more information from Emaar Properties
Notes and media contacts
About Emaar Properties PJSC:
Emaar Properties, the Dubai-based Public Joint Stock Company established in 1997, is a global property developer with significant presence in 14 countries. Listed on the Dubai Financial Market and part of the Dow Jones Arabia Titans Index, Emaar has diversified into education, healthcare, retail, hospitality and finance as part of its Vision 2010 to become one of the most valuable companies in the world.
Certified to ISO9001:2000 for quality standards, Emaar is developing Burj Dubai, on its way to become the world's tallest tower, and The Dubai Mall, the world's largest shopping and entertainment destination. In Saudi Arabia, Emaar is developing King Abdullah Economic City, the Kingdom's largest private sector project. Emaar's portfolio currently covers the following countries: the UAE, Saudi Arabia, Jordan, Syria, Lebanon, Egypt, Morocco, Turkey, Libya, India, Pakistan, the US, Singapore and the UK.
A multiple-award winning developer, Emaar has strengthened its product sale competencies, market reach and best practices through strategic acquisitions and joint ventures. Emaar acquired John Laing Homes, America's second largest privately held home builder; Hamptons International, UK's premier real estate company; and Raffles Campus, Singapore's leading education provider. Emaar has partnered with Turner International, Accor Hotels and Giorgio Armani to strengthen its presence in construction management and hospitality sectors. Emaar is opening educational institutions and healthcare centres in South Asia, Middle East and North Africa and the Subcontinent, and will launch ten luxury hotels and resorts world-wide.
Emaar holds 30 per cent equity in Dubai Bank, focused on retail and commercial banking. Emaar is also the largest shareholder in Amlak Finance, UAE's leading Islamic home financing company. For more information, visit www.emaar.com.
For further information, please contact:
Kelly Home / Nedal Alasaad
ASDA'A Public Relations
Exclusive Affiliate of Edelman PR Worldwide in Middle East & North Africa
Tel: (+971 4) 335 5969; Fax: (+971 4) 335 6080
Posted by Anne-Birte Stensgaard, Senior News EditorThursday, February 08 - 2007 at 14:40 UAE local time (GMT+4)
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