World of Wonders Real Estate Development (WOW RED) today announced its partnership with Dubai Islamic Bank, the UAE’s largest Islamic Bank, to provide an exclusive and value-added home finance solution for SLS Dubai Residences customers.
Assuring exceptional value for end-users and investors, the home financing product is the first ever and the only payment facility in the UAE residential market for its affordability and potential to earn more than 45% return on equity during the first 7 years.
The exclusive home financing solution means owning a home in the elegantly designed SLS Dubai Residences is a seamless process. Among several benefits, customers can enjoy an extended 25-year financing with zero % financing cost for the first 7 years. Furthermore, customers only have to pay 50% of the total price during the construction stage with the rest to be paid over a period of up to 25 years.
With this attractive offer by Dubai Islamic Bank, customers will only have to pay installments as low as AED 1,150 per month for a AED 1 million property for the first 7 years after handover of SLS Dubai Residences.
These low installments represent less than 35% of the rental costs incurred by many residents for commonly found typical units in the market, meaning end users are able to effortlessly and cost-effectively shift from renting a standard unit to owning an incomparable branded apartment in SLS Dubai Residences.
For investors, given the matchless features of SLS Dubai branded apartments and the expected rental premiums compared to typical units in the market, the monthly home finance installments will also correspond to less than 35% of their net monthly rental income during the first 7 years. This will enable investors to potentially earn more than 45% return on their cumulative equity.
Varun Sood, Chief of Home Finance at Dubai Islamic Bank, said:
“As the largest home finance provider in the UAE, we understand our customers’ home buying needs very well. This is also a key factor in building successful solutions with developers. We are pleased to partner with World of Wonders Real Estate Development on their upcoming prestigious project SLS Dubai Residences. Our aim has always been to collaborate with our partners and develop customer centric propositions across the customer’s home buying journey.”
Located in Dubai’s downtown district, SLS Dubai Residences tower is over 60% complete and on track to meet its Q3 2020 handover target.
As a renowned developer of integrated communities around the globe, World of Wonders Real Estate Development partnered with SBE, one of the leading hotel management companies, to launch the SLS Dubai in the UAE.
This means buyers and investors who acquire single or multiple units in SLS Dubai Residences will become part of the SBE Global Loyalty Program that grants them privileged access to any of SBE’s 24 hotels and residences and 85 restaurants around the world.
Members of the SBE Global Loyalty Program will enjoy benefits such as priority booking and upgrades for hotels, complimentary late checkouts, VIP arrival services, discounts on selected treatments and spas, access to VIP concierge services year-round, premier access to sbe venues and invitations to exclusive events.
Source Zawya