NBC starts handing agreements to Skycourts home owners

Holders of National Bonds who purchased their Skycourts homes utilizing NBC's installment plan, can sign and receive the Sale & Purchase agreement from NBC at the Shangri La Hotel Dubai till March 27, between 9 am and 9 pm. These buyers will start paying 10% of the apartment price on a quarterly basis.

National Bonds had also offered an attractive Islamic home financing facility through Dubai bank, Emirates Islamic Bank and Tamweel, where bondholders were able to simply pledge their National Bonds to book their homes. The Sale & Purchase agreements for those are being handed over directly through the bank.

The maiden investment initiative from National Bonds Corporation in UAE's booming property sector, Skycourts comprises over 2,300 upscale apartments in six towers coming up in Dubailand Residences Complex. The apartments, which uniquely combine luxury and affordability in one of the prime locations in Dubai, are scheduled for delivery in mid-2009.

The freehold apartments were sold out in just six days after NBC opened the sale exclusively for holders of National Bonds, the Shari'a compliant national savings scheme of the UAE.

"For those who choose to save with National Bonds, the opportunities are many and Skycourts has been one of them. National Bonds offers an ideal Islamic saving alternative and through Skycourts, we have offered an affordable alternative in the UAE property sector. Our investment initiatives will always accord top priority to the needs of the local community while ensuring good returns for our bondholders," said Nasser Bin Hassan Al-Shaikh, Vice Chairman and CEO of National Bonds Corporation.