Artar signs MOU with Arab Bank for Mada Residences
Agreement offers range of finance options to buyers in luxury Downtown Dubai residential tower
photo caption: Mohammad Al Masri, Country Manager, Arab Bank – UAE with Sulaiman Abdulrahman Al Rashid, CEO, ARTAR Real Estate Development
ARTAR Real Estate Development has signed a Memorandum of Understanding with Arab Bank to offer finance solutions for buyers of luxury apartments at Mada Residences in Downtown Dubai.
The 36-storey high rise residential tower located just a minute’s walk from The Dubai Mall offers 193 larger than average 1, 2, 3 and 4 bedroom luxury apartments.
“Our intention is to help investors and end users as much as possible in financing their purchases, and we are very happy to have signed an MOU with Arab Bank to support this commitment,” said ARTAR’s Chief Executive, Sulaiman Abdulrahman Al Rashid.
“It means that Mada Residences buyers interested in home loans will be able to take advantage of different finance options all offering competitive interest rates, fast process and flexible arrangements, with down payment starting from 25%.”
ARTAR, which is guaranteeing early delivery of all units in Q2 2018, has established an attractive payment plan requiring only 30% investment prior to completion.
Mada Residences includes 80 two-bedroom apartments with maid’s rooms, a unique feature in the Downtown area which has contributed to a large proportion of the units already being sold.
Proximity to a huge wealth of dining, entertainment, retail, leisure, cultural and other facilities has also helped significantly to attract both investors and end users.
Headquartered in Amman, Jordan, Arab Bank is the largest global Arab banking network with over 600 branches spanning five continents, including key financial markets and centres such as London, Dubai, Singapore, Geneva, Paris, Frankfurt, Sydney and Bahrain.
ARTAR is the real estate development arm of Abdul Rahman Saad Al-Rashid & Sons, a group with over 50 years of regional experience in delivering high end projects on schedule.
– Lindsay Johnston, Total Communications Dubai – also photo