DAMAC Properties and the Abu Dhabi Commercial Bank (ADCB) have announced signing a mortgage facilities deal, under which Dubai investors can capitalise on attractive mortgages, DAMAC revealed in a press release published on its official website.

“Clients looking to buy properties in the 42 million sq ft golf community, AKOYA by DAMAC, will be able to benefit from an off plan, 50% mortgage on rates as low as 3.99,” DAMAC revealed, adding that ADCB’s mortgage facility allows buyers to enjoy convenient payment plans of up to 25 years.

The offered mortgage will begin following the payment of the first half of the total value of the property and is calculated based on a 3.99% fixed interest rate for the first year per AED one million and based on campaign rates after the first year, reaching up to 25 years, the press release added.

Commenting on the deal, DAMAC Properties Managing Director Ziad El Chaar said “This new agreement will give the opportunity to a large number of home seekers to purchase a high value property in one of Dubai’s leading master developments. Buyers looking to own their own home in a luxury development will now be able to do so, with a secure finance facility from one of the most trusted banks in the region.”

Meanwhile, ADCB Head of Retail Banking Abdul Shakeel note that “This newly-launched mortgage facility is a golden opportunity for those who are planning to own their homes.”