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KeithL · Jan 21, 2007

Anyone know of a finance company that will finance properties in International City ??

I plan to buy a property there to rent and have tried contacting Amlak and Tamweel but their service is atrocious and the staff have no clue as to what they offer.

Thanks

MaaaD · Jan 22, 2007

other than the other two you mentioned (biggest two) there is

HSBC, ADCB, RAKBank, and Barclays. But i think Tamweel is the one doing financing for international city if your buying from developer. If you are buying from the secondary market you can go with whoemever you want.

I can recommend RAKBank.

KeithL · Jan 23, 2007

Thanks Maad !

Ive been looking around and the max that they are willing to finance is around 70% of the market value

Interest rates have climbed to over 8% now :shock:

fayz · Jan 24, 2007

I think banks are a little overexposed hence the worry. Out of curiousity though what are they claiming market value at for International City? if you don't mind sharing.

KeithL · Jan 24, 2007

fayz wrote:I think banks are a little overexposed hence the worry. Out of curiousity though what are they claiming market value at for International City? if you don't mind sharing.

Hey Fayz, its no problem at all

- Studio's range from between 300,000 to 330,000

- 1BHK's go for around 430,000 to 475,000

And its a little higher in the buildings like the CBD area

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