Abyaar signs home finance deal with Tamweel

Acacia Avenues, situated in the most sought after address in Dubai, has an investment value of US $550 million, and is reminiscent of the best real estate in the world. With this home financing deal potential buyers will soon be able to experience a distinctive and luxurious lifestyle with contemporary, yet feature-filled, sky villas, villas and apartments, gardens and extensive leisure and retail facilities.

Tamweel will provide home finance up to 90% of the property value for a period of 20 to 25 years. Prospective buyers can ensure their place in this distinctive project for a down payment as less as 10% and monthly installments to start upon delivery of the property.

"Acacia Avenues has already garnered a high interest since its launch in November 2006," said Marzooq Al Rashdan, Abyaar's Managing Director. "Jumeirah has historically been one of the most desired places to stay in Dubai and this is an opportunity to own property in this prominent district.

"This aspiration can become reality by our association with Tamweel which is more of a strategic partnership. We look forward to working with them on our entire selection of projects - current and future - across the emirate.

"Our presence in Dubai's property market has been further strengthened by the signing of this agreement with Tamweel who are well known for their impeccable reputation, high standards of ethical practice and financial acumen."

Tamweel's Chief Executive Officer Adel Al Shirawi said: "Tamweel's deal with Abyaar is a reflection of our trust in their project stability and sound business projection. There is always huge investor interest in a high-end project like Acacia Avenues where a stable class of homeowners require long-term investment."

"We are confident, then, that this is the appropriate moment for Tamweel to provide a range of benefits for individuals interested in Acacia Avenues."

Financing is available for up to 90% for villas and up to 85% for apartments. Villas are priced upward of AED 12.8 million and apartments from AED 1.8 million with delivery dates for the villas set for the first quarter of 2009, and the first quarter of 2010 for apartments.