Emaar offers zero payment booking

Emaar Properties has launched a path-breaking zero per cent down payment booking option for two of its most recent projects - The Greens at Emirates Golf Club apartment project and The Springs villa development.

The scheme, which is open only for a limited period, will enable UAE and GCC nationals and expatriate investors to book their dream home in these two projects without paying any money upfront.

This offer will further supplement the home finance schemes currently being offered to investors in Emaar projects by premier financial institutions in the UAE including Dubai Islamic Bank, Mashreq Bank, AMLAK Finance and Dubai Bank.

In addition, the company is also in advance talks with financial institutions across the GCC to offer similar home finance schemes to investors from across the region.

Mansour A. Al Othaimin, director of sales & marketing, GCC, International and Commercial, said, "Investing in a dream home is a big responsibility and investors need time to make the necessary financial arrangements to support this investment.

"With the zero down payment option, we are trying to make the investment experience of our customers as flexible and friendly as possible."

"The zero down payment option allows purchasers to choose and book their homes immediately and make the first payment of 10 per cent of the property value only in January 1, 2003,"he added.

Launched by Emaar two days back, The Springs is a new and innovative waterfront development project on Sheikh Zayed Road that sets a new benchmark in pricing for residential property in Dubai.

Villas at The Springs will be available from an attractive Dh 448,888 for a 3-bedroom villa. In addition, prices for a 4-bedroom villa start at an unbeatable Dh628,888.

Emaar had also recently announced the price of Dh188,888 for a studio apartment at The Greens at Emirates Golf Club.

The project, which was launched last month, has met with a huge investor response, marks Emaar's entry into a more affordable housing segment and consists of studio, one, two and three bedroom apartments.

While The Springs project is expected to be completed within a period of 18 months, apartments at The Greens at Emirates Golf Club will be ready for occupancy starting the first quarter of next year.

The Springs and The Greens at Emirates Golf Club are visionary master planned communities by Emaar, which will be an integral part of the high profile downtown of Dubai which was envisioned and created by Emaar and includes, The Dubai Marina, Emirates Hills, The Meadows.

The downtown Dubai fits in with the recent developments of the Dubai Internet City, Media City, the American University in Dubai, beaches and luxury hotels.