Dubai – Mubasher: Noor Bank announced signing a partnership agreement with Dubai Properties to provide financing for a number of both completed and off-plan properties, including Dubai Properties’ latest projects: Mudon, The Villa and Remraam.

The Sharia-compliant lender will offer attractive terms for end-user financing for both residents and non-residents in the UAE, the bank said in a statement on Wednesday, adding that offers include a 25-year financing tenure, finance to value ratios of up to 80% for UAE nationals and 75% for expatriates on completed projects as well as 50% for off-plan projects with financing of up to AED 25 million.

“As part of the collaboration, Noor Bank has assigned a dedicated team for the developer to ensure the delivery of quality service to the developer’s clients,” according to the statement.

This collaboration with Dubai Properties shows Noor Bank’s commitment to offering best-in-class Sharia-compliant solutions to support customers with their investment needs and provide them with the opportunity to own high-demand properties, said Pawan Dhawan, head of home finance at Noor Bank.

Meanwhile, Abdulla Abushabieb, executive director of sales and customer care at Dubai Properties, said: “Judging by the huge uptake for the first phase of the Mudon community cluster, we perceive an exceptionally strong demand for high-quality, affordable properties in carefully master-planned, and well located residential communities from homebuyers, ranging from young professionals to large families.”

He added that the company’s partnership with Noor Bank will enable Dubai Properties to offer a flexible range of home financing solutions to its customers and will reflect the company’s mandate to create solutions that meet the needs of homebuyers in the UAE market.