Mashreqbank offers mortgages for Indigo Tower's residential units

The full range of Mashreqbank's Home Loan mortgages will be available to both residents and non-residents. The home loan financing will be offered up to 70% to residents and 50-65% for non-residents of the cost of their apartment or penthouse.

Atif Bajwa, Senior Vice President and Head of Retail Banking Group, Mashreqbank, said: "We are pleased to add JPI to the list of distinguished developers we work with. They have a distinct vision which has been born out by the fact that both their Indigo Tower and their Indigo Icon commercial tower were fully sold out within hours of being announced."

Indigo Tower is a prestigious residential and commercial development designed by Atkins that will enjoy the prime position on the first plot at Nakheel's Jumeirah Lake Towers in the area being dubbed 'New Dubai'.

"This partnership extends our long-standing association with Mashreqbank and will enable us to continue to offer high quality, value-added service to our customers" said Mahesh Tourani, director, JPI.

The agreement includes mortgages for up to 15 years and personalised service to customers, pre-approval etc.

Due for completion in October 2006, Indigo Tower will soar an impressive 35 floors. Amenities will include a fully equipped gymnasium, steam room, lap pool, Jacuzzi, juice bar, a coffee shop, shopping boulevard, 24-hour security, covered car parking and six high-speed lifts - three for the residential floors and three for the commercial floors. Residents and commercial tenants will have separate entrances to the building and all owners will be entitled to a residence visa.

Jumeirah Lake Towers is a high-rise waterfront development by Nakheel between junctions five and six of Sheikh Zayed Road, opposite the Dubai Marina. It comprises 79 towers set among lakes, waterways and a modern road network. Arranged in clusters of three, different investors are constructing towers including residential, commercial and retail areas under Nakheel's guidelines. The ultra-modern development, with its panoramic views and surroundings, provides a relaxing environment for both living and working.