Deyaar ties up with banks on customer finance deals

Deyaar has tied up with five leading banks to offer up to 90 percent financing for nationals, and 80 percent for expatriates, on a number of its developments, the company said in a statement issued on Saturday.

Under the partnership scheme all five banks are offering more than 80 percent financing for every customer, with repayment periods of up to 25 years, predominantly on Deyaar’s finished products.  

The banks invovled include the Noor Islamic Bank , Dubai Islamic Bank, Abu Dhabi Commercial Bank (ADCB), RAK Bank and Emirates Islamic Bank - each offering varied terms and conditions, accoiding to the project and specific financing requirements.

Dubai Islamic Bank is providing up to 90 percent financing for UAE nationals, while expatriates can obtain up to 80 percent – all subject to credit approvals.

Noor Islamic Bank is offering up to 85 percent financing for locals and up 80 percent for expatriates.

ADCB will provide up to 80 percent finance on all Deyaar projects, and RAK Bank has agreed to provide up to 80 percent finance on select properties.

"These strategic alliances with the UAE’s leading financial institutions further reaffirms Deyaar’s commitment to providing its customers with the highest standards of quality and service and assisting them in securing easier access to credit at a time of restrained liquidity,” said Markus Giebel, Deyaar CEO.

“This demonstrates the confidence and belief that key financial institutions have in Deyaar’s ability to deliver on its commitments,” he added.

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