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Easier payment terms introduced in Dubai



Country:  Dubai, United Arab Emirates

25 November 2008

Property companies and developers in Dubai are offering easier payment terms for people buying property in the emirate, in an attempt to ease the impact of the global credit crunch in the region.

Adamant that it will not be scrapping any planned projects, Deyaar Development Company is to offer existing and future customers more flexible payment structure.

Deyaar is currently working on a number of schemes including the Business Bay, International Media Production Zone, Dubai Marina, Jumeirah Lake Towers, Tecom, Waterfront and Downtown Jebel Ali.

Union Properties will also be offering more relaxed payments schemes, which include giving investors the option to rent, own or rent-to-own in any of its residential or commercial properties in its Index tower, Limestone House and MotorCity developments in Dubai.

Elsewhere, Emaar Properties has just introduced a new development that extends property payments over a five-year period after handover and another scheme where people can try before they buy, with the option to rent a home before deciding whether to buy it.

It is not just Dubai that is taking measures to whether the property downturn. With property prices falling in nearby Qatar, local developer The Land has slashed in half the down payments investors need to pay when purchasing some homes on the Pearl-Qatar, a manmade island being constructed off the coast of Doha.


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