Emaar Properties, the world’s number one property developer, has joined forces with RAKBANK to offer a unique finance solution for purchasers interested in Emaar’s world class South Ridge community within the prestigious Burj Dubai Downtown development. Buyers will be offered a 95 per cent mortgage loan with which to purchase their ideal home.
Through the loan offer, purchasers only need a 5 per cent down payment rather than the standard minimum charge of 10 per cent thereby offering South Ridge one bedroom apartments from AED 5,390 per month and two bedroom apartments from AED 12,545 per month.
Potential buyers are invited to Emaar’s Downtown Living Presentation Centre at the Burj Dubai from 9am to 7pm from Monday, May 8 to Saturday, 13 2006, to learn more about the unique financial opportunity.
South Ridge offers some of the best panoramic views of the 500-acre Burj Dubai Downtown development. Coupled with unrivalled state-of-the-art amenities, the South Ridge community is set to become the ultimate in urban living for young professionals looking for an elevated lifestyle. The South Ridge community is currently under construction and due for completion in 2007.
Consisting of six exclusive towers, South Ridge overlooks the stunning Old Town and The Old Town Island with its prestigious low-rise residences, boutiques and souks fashioned in the style of vintage Arabia, and the bustling Burj Dubai Boulevard with its 24-hour eclectic mix of cafes and restaurants and topped off with the nearby Burj Dubai Lake. Since the launch of the first South Ridge tower last December, the community has already established itself as a firm favourite in the city.
“This is a watershed moment in the history of home financing and one in which Emaar is proud to be working with RAKBANK to assist purchasers in acquiring their dream property. Combining a truly stunning location with world class amenities, the South Ridge community is a unique set of properties and a supreme example of urban living. Whether as an investment or a home, South Ridge is a must-have for anyone looking for luxury apartment living in the world’s most prestigious address,” said Bahiya Kayed, Assistant Director of Sales, Emaar Properties.
“We are pleased to partner with Emaar on this offer and look forward to more initiatives that offer homeowners unique opportunities for purchasing property. We wanted to create a package that would parallel what was on offer within the exclusive Burj Dubai Downtown and such a finance solution was the perfect fit,” said Murray Sims, Head of Personal Banking, RAKBANK.
Other incentives offered along with the 95 per cent mortgage loan include loan tenors of 20 years with flexible repayment options, competitive interest rates and pre-approved Titanium credit card with every application. Approval of all loans is subject to RAKBANK’s terms and conditions.
Running up against the boundaries of the new Dubai International Financial Centre, adjacent to Sheikh Zayed Road - the emirate’s main conduit and centrally positioned to access both old Dubai and Dubai’s new growth corridor, Burj Dubai Downtown will eventually become one of the most desirable pieces of real estate in the world.
