Resident Indians can avail low interest mortgages by UAE banks

Residents of India exploring investment options in Dubai property can now double up their buying power, courtesy low-interest home loans facilitated by UAE banks. Indians can avail 50 to 60 percent of their property value, financing up to USD 5 million at as low as 2.99 percent interest rate. With financing period of up to 25 years, the arrangement serves as an apt platform for Indians to realize their dream of owning property in the lifestyle capital of the Middle East. At the upcoming Dubai Property Show being held from 6^th to 8^thNovember at Bombay Exhibition Centre, investors will have the opportunity to meet with banks, such as Abu Dhabi Islamic Bank (ADIB) and Amlak Finance, to discuss financial options for their UAE property purchases.

“In a recent move, to facilitate international buyers to engage in property ownership in the emirate, many of the banks offer mortgages to non-UAE residents as long as they reside in a particular country in the bank’s list of approved countries. India features on top of this list as investments from Indians in the Dubai property sector have remained highest over last several years. With the added ease of getting high loan amounts at such incredibly low interest rates, I think these are real good times for investments into the sector,” said Sunil Jaiswal, President Sumansa Exhibitions, organizers of Dubai Property Show.

“For someone living in India who’s looking for home loan in UAE, Dubai Property Show is a great platform since, instead of investing in a trip to the UAE to explore finance options, the show is bringing UAE banks to their home country for the same purpose.” added Jaiswal.

For better understanding of Dubai realty, and to gain first-hand knowledge of investment in the emirate, visitors at the exhibition can attend seminars that will brief them on its legal and commercial aspects. A presentation by ADIB, for instance, will give insight into pre-approved finance for Dubai property purchase. Other topics will cover issues such as the demand for affordable luxury housing, legal framework in the UAE and reasons to invest in Dubai. Global property consultancy, Knight Frank will present the recent performance and near-term outlook of Dubai residential sector.