Noor Bank, a Shari’a compliant bank in the United Arab Emirates, has partnered with Dubai Properties to provide financing for a selection of both completed and off-plan properties, such as Mudon — one of Dubai Properties’ latest projects — and completed projects such as The Villa and Remraam.
With the new association, Noor Bank will provide attractive terms for end-user financing for residents and non-residents. It will be available for up to 25 years and finance to value ratios of up to 80 percent for UAE nationals and 75 percent for expatriates on completed projects and 50 percent for off-plan projects with finance amounts of up to $6.81 million. As part of the collaboration, Noor Bank has assigned a dedicated team for the developer to ensure the delivery of quality service to the developer’s clients.
Under the various financing options, customers can avail Noor Bank’s home equity release solution, which provides financing of up to $2.7 million, ensuring they can unlock their property’s full value and invest in other venues.
In addition, clients who want to reduce their monthly installments during the initial years of the finance can also take advantage of the bank’s newly launched “Flexi Home Finance” for ready properties.
