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AI Hilal Bank and Saadiyat Development and Investment Company (SDIC) have signed an agreement to offer home finance options to homebuyers and investors at Hidd Al Saadiyat, the developer's luxury beachfront residential development in Abu Dhabi.
According to SDIC, the agreement increases the number of competitive mortgage options available to buyers.
The upcoming residential community covers 1.5 million sq m with 7km of beaches on Saadiyat Island. The community will consist of 452 villas, commercial centres, hotels, apartments, beach clubs and other amenities.
"Hidd AI Saadiyat is a one-of-a-kind project in Abu Dhabi. The interest that the project has generated so far is a clear indicator of the growing demand for high-calibre, resort-style community living close to the city," said Mounir Haidar, Managing Director of SDIC. "Given the solid reputation of AI Hilal Bank, we are delighted to have partnered with them for providing home financing options to our prospective clients."
Construction work on the project began in October, with work on the villas starting this month. More than 25 per cent of the first phase of construction has been completed, while SDIC said it has already sold more than 70 per cent of the villas.
"We look forward to working closely with SDIC, offering key home financing opportunities for buyers and helping them realize their dreams of owning their own homes," said Mohamed Jamil Berro, CEO of AI Hilal Bank.
Featuring sustainably designed villas, apartments, retail space, hotels and schools, the residential development has obtained Estidama Pearl 2 rating in compliance with Abu Dhabi's sustainability standards.
Source: Property Weekly