This means that should a client not be able to obtain financing through a bank, they will still be able repay their outstanding debt over a period of 7 years.
According to Mustafa Galadari, Vice Chairman and Managing Director of Ilyas & Mustafa Galadari Group, "We are delighted to offer to Wadi Walk purchasers an innovative payment solution unique in the ever growing property market in Dubai. Recognizing that a 'one size fits all' financing programme does not suit everybody, we have devised a refinancing package especially aimed at people who want to make their home at in Wadi Walk."
He added, "As developer's we want to build a long term relationship with our city inhabitants and believe any value added package we offer has to help our clients."
City of Arabia, one of the region's largest private projects, and a key development in Dubailand, falls within one of the newly designated areas in Dubai where expatriates can now enjoy freehold ownership.
The government has identified 23 areas and 45 plots, including the whole of Dubailand, following the March property law which legalised freehold ownership of land and property in the UAE for GCC nationals as well as non GCC citizens is specific areas. The announcement has brought an increased sense of confidence to the real estate sector as a whole and makes the purchase of residential property within City of Arabia an even more attractive proposition.
Browse
related articles
City of Arabia offers flexible payment plan to Wadi Walk residential investors
- United Arab Emirates: Monday, October 02 - 2006 at 13:46
- PRESS RELEASE
Related content
In a ground breaking package, the Ilyas & Mustafa Galadari Group (IMGG) have agreed to finance 50% of the purchase price on any Wadi Walk apartment subject to minimum paperwork.
An artist's impression of Wadi Walk.
Article Options
Log in to request more information from I & M Galadari Group
Posted by Janeta Novakovic, Assistant News EditorMonday, October 02 - 2006 at 13:46 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
This article was updated on Thu Sep 06 2007.
Notes and Media Contacts »
City of Arabia:
The City of Arabia, which is being developed by the Ilyas & Mustafa Galadari Group, is a multi million dollar project of 20m sq ft of land in the Downtown area of Dubailand. It will include the largest shopping mall in the region, the Mall of Arabia; the Restless Planet, a dinosaur theme park with over 100 animatronic dinosaurs; a 10 km long Wadi Walk with Mediterranean-style apartments, cafes and shops beside a flowing canal; and 34 tower blocks for mixed commercial, hotel and residential use. The project will, when completed, provide accommodation for around 40,000 residents.
This new City, at the heart of Dubailand, will be a magnet for the existing residents of Dubai and visitors alike; tourist facilities will include a 4-star hotel over the entrance to the Mall of Arabia and a smaller boutique hotel on an island in the waterway. The City of Arabia, which will have its own monorail people-mover linking the residential areas to the Mall and the Restless Planet, will open its first development in late 2008.
Ilyas & Mustafa Galadari Group:
The Ilyas and Mustafa Galadari Group is a dynamic young company owning a number of diversified companies in Dubai. The most high profile of these, the Ilyas and Mustafa Galadari Management Investment and Development Company, is developing the key downtown area of Dubailand, the City of Arabia.
Sunseeker Middle East has now joined the Ilyas and Mustafa Galadari Group, who have declared their intention of increasing the market in the Gulf and Levant for yachts across the whole Sunseeker range, from 35 feet to 120 ft in length. The IMG Group is also a major player on the Dubai transport scene. It owns a large taxi-fleet, Metro Taxi, with an associated driving school, the Galadari Motor Driving Centre, and workshops, (the Metro Auto Repairing Branch), which together operate over 1100 vehicles of all descriptions. In addition the Group owns one of the largest cold stores complexes in Dubai. Ilyas and Mustafa Galadari also own a jewelry company, which deals in gems and precious stones, a kitchen equipment company, and a company which supplies upholstery to the automotive, boating and hospitality sectors, and specializes in customizing Range Rovers, Mercedes, BMWs and other luxury cars.
For more information on City of Arabia please contact:
Jane Daly
Account Manager
GolinHarris
Capricorn Tower, 7th Floor
Sheikh Zayed Road
P.O.Box 116462 Dubai, UAE
t: +971.4.332 3308 ext: 204
m: +971.50.6553084
f: +971.4.331 6733
Martina Rohel
Ilyas & Mustafa Galadari Group
PO Box 114444, Dubai, UAE
Tel: +9714-3311022
Fax: +9714-3322311
Or call toll free on 800-8-800
The City of Arabia, which is being developed by the Ilyas & Mustafa Galadari Group, is a multi million dollar project of 20m sq ft of land in the Downtown area of Dubailand. It will include the largest shopping mall in the region, the Mall of Arabia; the Restless Planet, a dinosaur theme park with over 100 animatronic dinosaurs; a 10 km long Wadi Walk with Mediterranean-style apartments, cafes and shops beside a flowing canal; and 34 tower blocks for mixed commercial, hotel and residential use. The project will, when completed, provide accommodation for around 40,000 residents.
This new City, at the heart of Dubailand, will be a magnet for the existing residents of Dubai and visitors alike; tourist facilities will include a 4-star hotel over the entrance to the Mall of Arabia and a smaller boutique hotel on an island in the waterway. The City of Arabia, which will have its own monorail people-mover linking the residential areas to the Mall and the Restless Planet, will open its first development in late 2008.
Ilyas & Mustafa Galadari Group:
The Ilyas and Mustafa Galadari Group is a dynamic young company owning a number of diversified companies in Dubai. The most high profile of these, the Ilyas and Mustafa Galadari Management Investment and Development Company, is developing the key downtown area of Dubailand, the City of Arabia.
Sunseeker Middle East has now joined the Ilyas and Mustafa Galadari Group, who have declared their intention of increasing the market in the Gulf and Levant for yachts across the whole Sunseeker range, from 35 feet to 120 ft in length. The IMG Group is also a major player on the Dubai transport scene. It owns a large taxi-fleet, Metro Taxi, with an associated driving school, the Galadari Motor Driving Centre, and workshops, (the Metro Auto Repairing Branch), which together operate over 1100 vehicles of all descriptions. In addition the Group owns one of the largest cold stores complexes in Dubai. Ilyas and Mustafa Galadari also own a jewelry company, which deals in gems and precious stones, a kitchen equipment company, and a company which supplies upholstery to the automotive, boating and hospitality sectors, and specializes in customizing Range Rovers, Mercedes, BMWs and other luxury cars.
For more information on City of Arabia please contact:
Jane Daly
Account Manager
GolinHarris
Capricorn Tower, 7th Floor
Sheikh Zayed Road
P.O.Box 116462 Dubai, UAE
t: +971.4.332 3308 ext: 204
m: +971.50.6553084
f: +971.4.331 6733
Martina Rohel
Ilyas & Mustafa Galadari Group
PO Box 114444, Dubai, UAE
Tel: +9714-3311022
Fax: +9714-3322311
Or call toll free on 800-8-800
Disclaimer »
Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AMEinfo.com Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / Emap Limited. AME Info FZ LLC / Emap Limited is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AMEinfo.com Web site.
For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions
