The Standard Mortgage Product offers a standard loan of up to 75% of the property price. Potential end-users and customers can obtain financial support from Dhs150,000 to Dhs10m for a tenure of 3 to 25 years.
The home finance options will cover an extended portfolio of Emaar projects including apartments and villas in Dubai in prime locations such as Downtown Burj Dubai, Dubai Marina, Arabian Ranches and Emirates Living.
The ABL easy loan is particularly tailored for current investors and end-users seeking financial support to complete the remaining payments before handover, while the standard mortgage will appeal to all potential home-buyers.
Mr Ahmad Al Matrooshi, Managing Director - UAE, Emaar Properties, said:
"The partnership between Emaar Properties and Standard Chartered Bank is a huge confidence booster for Dubai's property sector, as it marks the strengthening of liquidity levels. Emaar has always been at the forefront of industry-leading initiatives and this collaboration will further invigorate the market and strengthen investor confidence."
He added: "The two easy mortgage plans are tied in for the projects that are to be delivered in the next nine months. The ABL product, an easy loan, particularly underscores our commitment to support investors who have been affected by the unprecedented challenges of the global financial crisis."
Commenting on the partnership, Chris de Bruin, Head of Consumer Banking, Standard Chartered UAE said: "This is an exciting opportunity for Standard Chartered to broaden the core range of our home finance solutions which are offered by us in both conventional and Shariah compliant varieties. The introduction of this new line up is part of the larger consumer banking concept that Standard Chartered has created specifically to be more customer centric."
Potential customers can visit the Emaar Sales Centre within Downtown Burj Dubai or the nearest Standard Chartered Bank branch located at Emaar Business Square and complete the formalities to avail of the mortgage.
Emaar has already handed over several thousand homes in Dubai. World-class villas and apartments in integrated communities with all lifestyle amenities are being developed in Downtown Burj Dubai, Arabian Ranches, Dubai Marina and Emirates Living - the four Emaar communities.
Browse
related articles
Posted by Nadeen El Ajou
