It allows local and Gulf investors to benefit from financing up to 85% of the property's value
"Emirates Islamic" launches a proposal to finance "Nad Al Sheba Villas"
The community of “Nad Al Sheba Villas” includes 1572 luxury villas. From the source
Emirates Islamic Bank announced yesterday its cooperation with Nakheel Real Estate Company to launch a special offer for financing homes for citizens of the United Arab Emirates and the countries of the Cooperation Council for the Arab Gulf States who wish to buy homes with the "Nad Al Sheba Villas" project.
The bank stated, in a statement, that investors can benefit from financing up to 85% of the property's value, at competitive prices starting from a fixed rate of 3.19% for a period of two years.
He added that he also offers a 50% discount on administrative fees and exemption from evaluation fees, pointing out that the profit rates are based on the profit rate set between Emirati banks (EIBOR), after the expiry of the fixed profit period.
The "Nad Al Sheba Villas" community of Nakheel includes 1572 luxury ready-to-live villas, consisting of four and five bedrooms, inspired by the architectural styles of the Mediterranean and the Moroccan.
The villas include a maid's room with a separate entrance, bathrooms inside all the bedrooms, terraces, a spacious garden, and a covered parking for two cars, with prices starting from 2.398 million dirhams.
The community, scheduled to open in the first quarter of next year, will include its own retail and entertainment center, a "supermarket", salons for men and women, a pharmacy, a swimming pool, and a sports court.
As a promotional offer, customers wishing to buy villas directly from Nakheel can also benefit from free service fees for five years, 2% registration fees in the Dubai Land Department, in addition to a free voucher for home appliances worth 15,000 dirhams.
Farid Al-Mulla, Vice President of Retail Banking and Wealth Management at Emirates Islamic, said: “We are pleased to cooperate with Nakheel to offer this exclusive and competitive offer to the citizens of the country and the GCC countries, to help them own the homes of their dreams.”