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ADF announces mortgage scheme

10/03/2009 11:43 PM | Staff Report

Abu Dhabi: Abu Dhabi Fin-ance in partnership with Aldar Properties on Saturday announced it will launch a new mortgage solution developed specifically for the Al Muneera, Al Zeina and Al Bandar districts within the Al Raha Beach development during the Cityscape Dubai exhibition.

The limited availability product offers a low fixed interest rate of 6.99 per cent for the first six months, followed by a discounted variable rate that is one per cent lower than prevailing interest rates for one year.

It also includes a maximum loan amount of 85 per cent spread over up to 30 years, and all the standard benefits of Abu Dhabi Finance's core product Essence.

Furthermore, the mortgages are entirely free from fees as both application and processing fees are covered by Aldar, and are exclusively available to new customers looking to buy one of the remaining units in Al Muneera, Al Bandar and Al Zeina.

The three districts account for more than 2,000 quality units in Al Raha Beach, Aldar's major beachfront development in Abu Dhabi.

Al Bandar is a charming marina island home to plush apartment and duplexes, chic loft apartments and larger family apartments.

Al Muneera will offer luxury villas and apartments, some with waterfront and canal views.

The garden city of Al Zeina at the gateway to Al Raha Beach consists of premium villas, town houses and apartments nestling among terraced gardens on the beachfront. Al Bandar, will be delivered in the second quarter of 2010, with Al Muneera and Al Zeina to follow.

Eligible applicants will have the chance to apply for the mortgages at the Aldar stand at the Cityscape exhibition that will run from October 5 to 8 in the Dubai International Convention and Exhibition Centre or by calling Abu Dhabi Finance's call centre at 800 ADF.

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