Dubai: Dubai Silicon Oasis (DSO), the free zone technology park aims to attract more buyers for Cedre Villas by offering a number of promotional deals during Cityscape.
DSO announced during the event its agreement with Barclays Bank to offer affordable accommodation with competitively priced mortgage rates.
Favourable terms
The agreement offers potential homebuyers a number of favourable terms based on three pricing options: 0 per cent interest for two years, 2.5 per cent interest for three years or 4.25 per cent interest for five years and free insurance for the first year. Customers can benefit from a maximum loan of up to 75 per cent.
"Barclays mortgage offering for Cedre Villas is one of the most attractive in the UAE. Many customers tell us they want certainty and transparency around their payments and under this offer it will make it considerably easier when they are budgeting and planning ahead," said Venky Srikantan, Head of Consumer Banking for Barclays UAE.
Their other promotion offered on behalf of DSO is an exemption from all Land Department fees with DSO paying the two per cent residents normally have to pay. They are also offering one year free of community charge.
"We aim to attract more customers. Everyone is trying to find the best rates and prices after the Ramadan period. Many investors just wait for Cityscape so they can see what promotions attract them," Waleed Bin Shafie, vice-president of corporate sales real estate, Dubai Silicon Oasis, told Gulf News.
The gated Cedre Villas development is a 65,000 square foot residential community which includes a community centre, clubhouses, nursery, pedestrian networks, interconnected courtyards and parks.
Steady growth
The leasing and sale of all 368 units in Phase I of the Dh1.55 billion project has been completed, while Phase II was delivered last June.
Almost 40 per cent of Phase II units have been leased and sold.
Currently, 126 plots are being developed at Dubai Silicon Oasis out of which the construction of 44 fitted-out buildings was completed during the first half of this year.
DSO announced 131 per cent growth in profits for the first half of 2010 and a 148 per cent increase in revenue while the total number of companies operating in the park rose by 25 per cent.
Lifestyle complex
Dubai Silicon Oasis (DSO) yesterday announced it has entered into a deal with SouqExtra, the pioneering national chain of community supercentres, to build a sprawling lifestyle complex at DSO.
The deal was signed by Eng. Muammar Al Katheeri, Senior Vice-President Engineering Management , DSOA, and Saleh Abdullah Lootah, Managing Director of SouqExtra, at the DSO pavilion in Cityscape Global 2010.
