Baniyas Investment and Development Company (BID) – the investment arm of Bani Yas Sports Club, has tied up with Abu Dhabi Islamic Bank (ADIB) to offer preferential financing options of up to 80% of the unit’s value for buyers at its project Bawabat Al Sharq, in Bani Yas City.

During Cityscape Abu Dhabi, potential buyers of units in Bawabat Al Sharq can obtain pre-approvals on their home financing from ADIB. Customers pay a 10 % down payment and sign their Sales and Purchase Agreement, and another 10 % upon delivery of the purchased unit with no payments required during construction. Buyers could obtain the financing of up to 80% of their remaining property value and repay it over a period of up to 25 years. UAE nationals could benefit from a home loan that could reach 8 million AED while expatriates could secure a loan of up to 5 million AED.

Commenting on the tie-up, Wael Tawil, CEO, BID, said: “We are a customer focused organization; we are always looking for innovative ways that will help our customers live in their dream homes with ease. Finance availability is one of the most important aspects of real estate. In today’s market it is even more important that developers do the hard work and provide customers with choices, therefore, we have chosen to tie up with ADIB and conveniently have them with us on our stand in Cityscape to make finance the least of our customer’s concerns. Moreover, we also offer our owner’s financing as an option, thus providing the customers with all the possible choices.”

For customers interested in the ADIB home financing, a minimum age of 21 years, a valid salary certificate, additional income verification, a passport copy (valid resident visa for expats) and a current account with a salary transfer to ADIB are some of the pre-requisites for processing the scheme. A minimum salary of AED 10,000 is required for nationals and AED 20,000 for expats.

Bawabat Al Sharq will offer its customers an assortment of luxury services. The project is meticulously designed to meet the varied requirements of different customers. Phase ll Apartments within Bawabat Al Sharq include a total of 500 units, spread across 14 distinctive buildings within 6 different blocks whilst the villas comprise a total of 129 three, four and five bedroom detached villas.

Cityscape Abu Dhabi 2010 is scheduled from April 18th – 21st, and ADIB will have a dedicated stand at the BID stall which is located in Stand 7E 10, Hall 7.
 

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