Asteco, one of the GCC’s premier property services companies has collaborated with Commercial Bank and Capital Investments to offer a pioneering mortgage product to the Qatar market for the first time.
Buyers of new danat Qatar apartments, situated in the Porto Arabia district of Qatar’s prestigious Pearl Development can now benefit exclusively from a new mortgage loan scheme, with stepped mortgage payments to coincide with construction milestones.
The revolutionary payment scheme devised by Commercial Bank, sees banking funds released to developers only on successful completion and survey of critical points in the construction stage, to time and specification. Developers are rewarded with each successive floor level built, whilst new homeowner’s gain peace of mind that their new homes will be completed and ready to move into, within a scheduled timeframe.
Steve Flint, AGM & Head of Property Business at Commercial Bank said: “We are always looking at ways to provide a better service for our customers. A mortgage is the start of a mutually rewarding relationship and it represents a serious commitment between the bank and the customer; a commitment a developer should share. The benefits of the scheme are clear to see and we are certain that our customers will appreciate that the bank will only make staged payments; which is after all money they have borrowed, on receipt of a report from an independent professional body.”
The danat Qatar development will become a part of investment firm, Capital Investment’s already successful international business portfolio. This collaboration echoes the firm’s strong belief in low-risk investment, with homebuyers taking receipt of their new property, built to the highest of specifications.
International property services company Asteco, have been appointed chief property agents to sell the danat Qatar portfolio under the new mortgage scheme. “We have confidence that our buyers will not only appreciate the peace of mind they get through the construction milestone scheme but that they will clearly see the benefits of purchasing the danat Qatar apartments through Asteco” said David Oayda, Asteco.
