Finance plan launched for Dubai Residences tower
Real estate firm World of Wonders Real Estate Development (Wowred) has partnered with Dubai Islamic Bank to offer a financing option for customers of its 75-storey SLS Dubai Residences project, worth $550m (AED2bn), in the emirate’s Downtown District. An extended 25-year financing with 0% cost for the first seven years is included under the scheme. Additionally, 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. According to the developer, customers will have to pay instalments at a minimum of $313 (AED1,150) per month for a property worth $272,257 (AED1m) for the first seven years after handover of SLS Dubai Residences.
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