Monday, April 23, 2007

Tamweel mortgage will cater all market segments

Islamic mortgage lender Tamweel said yesterday it is catering to all the market segments from mid to high income and not just the premium segment.

Tamweel partnering with developers who believe in offering the best to end-users as our job is to protect them. Also anounced a mortgage plan for apartments in the Dh12-billion Discovery Gardens project being developed by Nakheel.

The company will provide 93 per cent finance for 1,200 apartments in the project’s Mediterranean section, with down payments starting at Dh35,000 for studios and Dh60,000 for one-bedroom apartments. These payments are inclusive of arrangement fees, and finance is available for up to 20 years.

Discovery Gardens, located just off Sheikh Zayed Road, comprises 291 buildings and houses 26,000 apartments. Covering an expanse of 26 million square foot, the development will include six themed communities inspired by garden living such as Zen, Mediterranean, Contemporary, Cactus, Mogul and Mesoamerican courtyard gardens.

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