Deyaar ties up with leading banks to offer customers viable financing options

As part of the strategic partnerships, customers will, subject to meeting the bank's credit approval requirements, be able to avail special financing schemes for properties developed by Deyaar, enabling them to benefit from favorable repayment terms and quicker approvals.

The banks offering these facilities exclusively to Deyaar customers consist of dominant players in the UAE property finance market, including Noor Islamic Bank, Dubai Islamic Bank, Abu Dhabi Commercial Bank (ADCB), RAK Bank and Emirates Islamic Bank.

While the exact terms and conditions of the financing given will vary according to the project and the specific financing requirement, the banks will offer over 80% financing, predominantly on Deyaar's finished products.

Dubai Islamic Bank is providing up to 90% financing for UAE nationals, while expatriates wishing to purchase a property from Deyaar will avail up to 80% financing. Noor Islamic Bank is offering up to 85% financing for UAE nationals and up 80% for expatriates, ADCB will provide up to 80% finance on all Deyaar projects, and RAK Bank has agreed to provide up to 80% finance on select properties developed by Deyaar.

"These strategic alliances with the UAE's leading financial institutions further reaffirms Deyaar's commitment to providing its customers with the highest standards of quality and service and assisting them in securing easier access to credit at a time of restrained liquidity. This demonstrates the confidence and belief that key financial institutions have in Deyaar's ability to deliver on its commitments."

said Markus Giebel, Chief Executive Officer of Deyaar.

"Today's announcement bears testimony to Deyaar's solid financial performance and strong fundamentals and reinforces its status as a leader in customer care and innovation."