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Saadiyat Development and Investment Company (SDIC) has signed a strategic agreement with Aseel Islamic Finance to provide its customers Shariah-compliant financing for villas located in Hidd Al Saadiyat, a luxurious residential development project on Saadiyat Island, Abu Dhabi.
Located on a land area covering nearly 1.5 million sq m with nearly 7km of waterfront, the Hidd Al Saadiyat project will provide residents the finest offerings on the shores of the Arabian Gulf. The community will consist of 450 villas, commercial centres, hotels, apartments, beach clubs and amenities.
According to a statement, SDIC’s home finance agreement with Aseel Islamic Finance is a strategic move that resonates with the developer’s commitment to ensure that its customers are offered attractive financing facilities. The tie-up helps SDIC provide buyers with convenient options of obtaining finance solutions, which can be tailor-made to suit the buyer’s requirements.
Construction is underway. SDIC awarded the construction contract to Al Jaber Buildings in June 2012 and the project is expected to be completed in 2016.
Source: Property Weekly