News | UAE

ADIB launches home finance for Saadiyat villas

Residents can avail finance of up to Dh30m, repayable over 25 years at 4.99% interest

  • By Shehab Al Makahleh, Staff Reporter
  • Published: 18:17 December 11, 2012
  • Gulf News

Abu Dhabi: Abu Dhabi Islamic Bank (ADIB) and the Tourism Development and Investment Company (TDIC), a master developer of major tourism, cultural and residential destinations in Abu Dhabi, on Monday launched an exclusive home finance scheme for high-end residential communities on Saadiyat Island, TDIC announced.

“This scheme, which applies to purchases of the luxury Saadiyat Beach Villas, will offer a unique and simple home finance package for potential Saadiyat island residents that includes 100 per cent finance for up to Dh30 million, repayable over a period of 25 years with a competitive profit rate starting from 4.99 per cent,” according to TDIC.

Ahmad Al Fahim, executive director of marketing, communications, sales and leasing at TDIC, said: “This is a very attractive and exclusive home finance opportunity for home buyers. This gives prospective homeowners an option of up to 100 per cent financing as well as the opportunity of owning a home in one of Abu Dhabi’s most prestigious residential communities on Saadiyat Island.”

“This offer comes at a perfect time as we are witnessing an increased demand for our properties from prospective homeowners, reflective of the great prospects being brought about from the current real estate market” said Al Fahim.

“Our aim is to support Abu Dhabi’s growing real estate sector by strategically identifying the market’s needs; therefore, each of the company’s residential projects is positioned to appeal to a wide range of discerning homeowners and tenants,” Al Fahim told Gulf News.

Success in sales, leasing

The properties developed by TDIC on Saadiyat Island have witnessed great success due to their distinctive offerings, exclusive lifestyle and flexible financing schemes. These include Saadiyat Beach Villas, where 80 per cent of high-end luxury homes in the first two phases has been sold out, and The Residences at The St. Regis Saadiyat Island Resort — consisting of 32 exclusive villas and 259 apartments — where 98 per cent of apartments have been leased out.

TDIC is currently studying the launch of the third phase of the Saadiyat Beach Villas as a result of strong demand witnessed in the project’s first and second phases.

This upscale community comprises 354 villas which began to be delivered earlier in 2012 and are in the process of being handed over by the end of the year. The project features high-end luxury homes in gated communities consisting of landscaped parks, playareas for children, swimming pools, state-of-the-art gymnasiums, basketball and squash courts.

Saadiyat is becoming an appealing hotspot for residents and tourists, with its prestigious residences, cultural attractions, high-class sport and leisure venues, vibrant beach lifestyle and world-renowned hospitality brands such as the St. Regis, Monte Carlo and Park Hyatt.

The world-class museums designed by Pritzker Prize-winning architects for the island — starting with the Louvre Abu Dhabi in 2015, followed by Zayed National Museum in 2016 and Guggenheim Abu Dhabi in 2017 — are attracting prospective homeowners who want to be part of Saadiyat’s beautiful and inspirational community.

Al Fahim told Gulf News that the name of the contractor to execute construction of the Louvre Museum on Saadiyat Island will be announced at the end of this month and work will start in the beginning of 2013.

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