EMAAR talks with regional Financial Institutions to offer Home Finance for GCC investors

This will further supplement the home finance schemes currently being offered to UAE national and expatriate investors by the EMAAR subsidiary, AMLAK Finance, which is the UAE's first and only home mortgage company. Additionally, the Dubai-headquartered Dubai Islamic Bank (DIB) is also in the process of finalizing a range of Islamic finance options for investors in EMAAR projects.

Mr. Mansour A. Al Othaimin, Director of Sales & Marketing, GCC, International & Commercial, said the response to its projects from investors across the region has been tremendous. "While Dubai has always been a favourite destination for visitors from across the GCC, the EMAAR offer of premium quality lifestyle real-estate, coupled with the advantages of freehold ownership, is now evoking a high level of investor interest from GCC nationals across the region."

Investors from the GCC are a significant audience in EMAAR's various existing projects, including Emirates Hills, Dubai Marina, The Meadows at Emirates Hills and The Greens at Emirates Golf Club, and the demand from these segments is getting larger.

"To cater to this growing demand we have already conducted several rounds of discussions with leading financial institutions across the region, especially in Saudi Arabia and Kuwait, to offer individual and corporate investors a range of property finance options. We will shortly be embarking on a region-wide contact programme to enable our investors get first-hand information on our projects, options for home finance and the development status of the various projects," he added.

The company also recently announced the launch of the first phase of construction comprising 8,888 new residential units across its various world-class projects in Dubai.

The first five phases of The Meadows, comprising over 800 villas, were quickly sold out when bookings opened in July this year. Similarly, The Greens apartment project, which marks EMAAR's entry into the affordable housing segment, also met with tremendous investor response with over 600 one, two, three and four bedroom units snapped up in a matter of days. EMAAR plans to launch more villa and apartment projects soon.

In addition, following the complete sell-out of the first phase of the company's prestigious Dubai Marina development, Marina 1, which comprises six towers housing over 1,500 residential units, the company has already started accepting bookings for the next phase of the project, Marina 4, a dynamic five-building complex located on the eastern side of Dubai Marina.