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ADF to Offer Mortgage for Green Emirates Properties
ABU DHABI — Abu Dhabi Finance, or ADF, has decided to offer mortgages for Green Emirates Properties. Launched in 2008, ADF already offers mortgages for the properties being developed by Aldar Properties, Sorouh Real Estate, the Tourism Development and Investment Company, Capitala, Profile Group Properties.
With the decision to offer mortgages to Green Emirates Properties the ADF will extend its reach to cover almost 75 per cent of the property market in Abu Dhabi. Initial developments covered by the agreement include Marina Blue and Ocean Terrace in Marina Square on Al Reem Island.
The two developments together account for 829 high quality apartments. Abu Dhabi Finance is already offering end-user finance on Sea Shore Villas.
This development was handed over by Green Emirates Properties back in 2007 and consists of 236 villas or townhouses. Highlights of the mortgages will include finance for up to 85 per cent of the property value, a maximum tenure of 30 years up to an upper age limit of 70 at loan maturity, and a debt service ratio of 55 per cent.
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