Al Fajer Properties and ADCB will provide a loan to purchase an office in Jumeirah Business Center
Talking about the details of a new property finance service in an exclusive office building under construction in the Jumeirah Lake Towers neighborhood, Al Fajer Properties and ADC B officials noted that the new loan scheme will offer 60% of the real estate selling price. the loan repayment term will be equal to ten years after the commissioning of the facility.
Commenting on a bilateral cooperation agreement and a new mortgage financing scheme with ADCB, Dr. Shahram Abdullah Zadeh, CEO of Al Fajer Properties, said: “The idea of a new loan service is that buying an office will no longer be related to concerns about loan conditions and other financial provisions, since Al Fajer Properties already has the necessary arrangements for bank guarantees on behalf of potential investors, which is a unique offer on the market. Hovhan us after extensive market study of trends in order to help investors to accelerate the acquisition of offices rightfully BOUND prop in Jumeirah Business Centre Towers ".
According to the new scheme, investors, both legal entities and individuals with their own business in the UAE, will be able to acquire freehold offices in the Jumeirah Business Center project, paying only 30% of the cost of real estate during the construction of the facility in several stages. and 10% at the end of construction. The missing amount will be provided by ADCB, so that investors can safely start doing business in a newly acquired office, paying off the loan over 10 years. During the construction phase of the facility, mortgage financing will be priceless, so that investors have a unique opportunity to obtain a profitable loan.
“Today, the Dubai business community has generated an increased demand for investments in their own office space, especially because of the continued increase in the cost of their rent, as this allows businessmen to acquire assets that ultimately maximize the profits of their companies. However, banks continue to a conservative loan policy, and Al Fajer Properties has taken the initiative to facilitate this process for its esteemed investors so that they can realize their dream of becoming owners with office space without all the hassle associated with obtaining a regular bank loan and the terms of its repayment, "said Dr. Shahram.
The Jumeirah Business Center Towers project offers exclusive freehold offices located in an ideal location with all the advantages of a free economic zone, namely with 100% business ownership and guaranteed no taxation for 50 years. The ultra-modern level of infrastructure and one of the most impressive projects in the very center of the new Dubai residential community with a limited number of commercial buildings guarantees increased long-term demand, high market value of assets and profitable return on investment. The five Jumeirah Business Center skyscrapers have a total building area of 3.1 million square feet and a wide selection of offices ranging from 800 to 11 square feet.
“The commercial real estate market in Dubai is on the rise today. As a result, the annual rental costs of acquiring your own office will offset the profits. This unique financial opportunity was created taking into account the needs of customers and provides a cost-effective and simple solution to the question of how to make costs for rental assets of the company, "said Dr. Shahram. Hassan Jarrar, Head of Commercial Banking at Abu Dhabi Commercial Bank, said: “We have been working fruitfully with Al Fajer Properties since the construction of the first two towers began, and our common goal is to provide our customers with innovative and best-of-breed loan systems, which will allow their business to develop.The new financing scheme was developed in such a way that our relationships and joint tasks exceed existing mortgage offers on the market and allow us to expand the range of services d for our customers, we are confident that this approach ultimately guarantees us appreciation, both from buyers and from tenants.
Al Fajer is a modern developer who is looking for ways to offer the best return on investment options to his clients. The Jumeirah Business Center project is no longer the first five-star office facility of the kind in the region. The sales volumes of the five Jumeirah Business Center towers are a real testament to investor confidence in Al Fajer Properties' projects and our confidence in the skills of this developer and his commitment to high quality work. "
Mr. Jarrar also noted that ADCB was originally created as a financial institution to provide affordable loans that would be beneficial for potential investors. Financing will be provided with competitive interest and a simplified scheme.
Jumeirah Lake Towers, under the administration of the Dubai Commodity and Raw Materials Center (DMCCA), is a “city” that differs from other similar new buildings with a harmonious balance between buildings, green spaces and water spaces. Gorodok is a multifunctional district with residential buildings, commercial and office buildings for a full and comfortable life and activity, surrounded by lakes and coastal boulevards with all the conditions for world-class recreation and an excellent selection of restaurants and cafes.
