TECOM Investments and Amlak Finance Launch Off-plan Islamic Financing for Villa Lantana Residential Community

TECOM Investments and Amlak Finance Launch Off-plan Islamic Financing for Villa Lantana Residential Community

TECOM Investments has signed an agreement with Amlak Finance, the UAE’s first specialised real estate finance provider, to offer Shari’a compliant financing options via its Amlak Tatweer program to all purchasers of freehold Villa Lantana homes, including non-resident and self-employed buyers.

Amlak will offer financing up to 50 per cent of the property value prior to project handover, with the option to re-finance up to 75 per cent upon completion for tenures of up to 25 years at highly competitive rates, enabling more investors and end-users to become part of the Villa Lantana community.

The agreement was signed by Badr Al Gargawi, Chief Executive Officer, Development & Planning Division, TECOM Investments, and Arif Alharmi, Managing Director and CEO of Amlak Finance PJSC.

Commenting on the partnership, Mr. Al Gargawi said, “We are proud to be working with Amlak Finance to provide a Shari’a compliant option for people to own their dream home at Villa Lantana.  A big part of TECOM Investments’ ethos when planning a new development is to engage with our stakeholders to ensure we deliver in line with market and consumer requirements. They told us that they needed a forward thinking, tailored Islamic finance option - and this is exactly what Amlak Tatweer offers.”

The new Villa Lantana development of 440 freehold family villas represents an astute investment opportunity, in part due to its key location in Dubai’s Al Barsha growth corridor in addition to the established reputation of its master developer, TECOM Investments.

Mr. Alharmi commented, “Amlak is pleased to be partnering with TECOM Investments to offer these tailored and easy financing solutions for those wishing to own a property at Villa Lantana. Our Tatweer product is a perfect match for such an impressive development. We continually strive to provide prospective investors with innovative Islamic finance solutions.”

Villa Lantana benefits from being in close proximity to Dubai’s main arterial roads, allowing fast and easy access to the city’s primary business areas, retail and entertainment hubs. The community is just minutes away from Mall of the Emirates and within a five minute walking distance from the soon-to-be-launched My City Centre Al Barsha. A number of leading schools have also recently opened in the near vicinity.

The contemporary Villa Lantana community also features a well-planned, beautifully landscaped family neighbourhood. Buyers can choose between 17 different villa designs, 11 floor plans and a range of 3, 4 and 5 bedroom detached and semi-attached family homes. Villas span in square footage from 2453 square foot, Built Up Area (BUA), up to 6082 square foot (BUA).

To learn more about the financing options for this development please contact Amlak Finance on 800-AMLAK (26525). Alternatively, to find out more about Villa Lantana please visit www.villalantana.ae or call 800-LANTANA.

 

About Villa Lantana:

Villa Lantana is a freehold villa community for Dubai’s growing family market, launched by TECOM Investments and ideally situated in the heart of Dubai’s growth corridor of Al Barsha.

Villa Lantana is in close proximity to Dubai’s main arterial roads and enjoys fast and easy access to the city’s primary business areas, retail and entertainment hubs, and educational establishments. Construction is currently underway with project completion set for Q4 2015.

Set in two well-planned and landscaped, gated communities, the development consists of 3, 4 and 5 bedroom detached and semi-attached family homes offering a choice of 17 different villa designs and 11 floor plans. Residents of Villa Lantana will benefit from a retail centre, parks and playgrounds, as well as sports facilities including sports centres with gyms and pools, sports courts and outdoor jogging tracks. All amenities and full landscaping will be completed in time for handover.

For further information and to register your interest, please visit www.villalantana.ae or call 800-LANTANA.

TECOM INVESTMENTS’VILLA LANTANA FREEHOLD RESIDENTIAL DEVELOPMENT WELCOMES MAJID AL FUTTAIM NEIGHBOURHOOD CENTRE

TECOM INVESTMENTS’VILLA LANTANA FREEHOLD RESIDENTIAL DEVELOPMENT WELCOMES MAJID AL FUTTAIM NEIGHBOURHOOD CENTRE

·         New 53,500square feet neighbourhood centreto begin construction in September 2015

·         Less than a five minute walk from the new Villa Lantana residential community and Al Barsha South residence

·         My City Centre Al Barsha due to open in the third quarter of 2016

Dubai, UAE:TECOM Investments, the established master developer and operator of industry-focused business communities, and Majid Al Futtaim, the leading shopping mall, retail and leisure pioneer across the Middle East and North Africa, today announced that a new neighbourhood centre ‘My City Centre Al Barsha’will be built next to the Villa Lantana residential communityin Al Barsha South.

Scheduled for completion in June 2016, the 53,500 square feet neighbourhood centre, of which 40,000 square feet of space is available for lease,will serve the burgeoning residential community of Villa Lantana which is a short five minute walk away, in addition to other nearby communities in the Al Barsha residential district.

Majid Al Futtaim is committed to expanding their footprint of neighbourhood and community malls to deliver quality retail to residential areas in Dubai and other emirates.My City Centre will bring a collection of select shops which aim to service the everyday needs of the local communities in which they are located.In line with this vision, the My City Centre in Al Barsha will be anchored by aCarrefour Market and will include F&B offerings and popular fashion retailers, as well as community services.

My City Centre Al Barshais strategically located in the growth corridor of Al Barsha South, situatedjust off Umm Suqeim Road. Its proximity to Dubai’s main arterial roads provides easy access to Dubai’s primary residential and business areas.

Commenting on the deal, Badr Al Gargawi, Chief Executive Officer, Development & Planning Division, TECOM Investments said:

“I am delighted to announce that Majid Al Futtaim will be developing a new neighbourhood centreto support theVilla Lantana community. I am confident that this will serve the needs of busy families living in and near the new development, adding value for residents, investors and stakeholders of the development.  Working with Majid Al Futtaim is in line with our vision to create holisticcommunities that cater to the everyday needs and lifestyles of all occupants.”

Michael Cesarz, CEO of Shopping Malls, Majid Al Futtaim Properties, commented:“We’ve set the standard for what a super-regional and regional shopping centre should be in the region with our destinations. Now we are doing the same with neighbourhood centres through the My City Centre brand. We believe this will allow us to bring our vision of creating great moments for everyone, every day much closer to communities by catering to routine needs in a distinctive way. This is what we aim to deliver to the developing communities of Villa Lantana and Al Barsha.”

The centre is the second My City Centre to be announced this year so far, after Majid Al Futtaim announced My City Centre Sur in Oman earlier in March. It will also be the third in the brand after My City Centre Nasseriya opened its doors in Sharjah in early 2014.

Villa Lantana marks TECOM Investments’ dedication to developing self-supporting holistic communities. The residential community comprises of 440 contemporary villas set in a well-planned, landscaped family-friendly neighbourhood. The 3, 4 and 5 bedroom detached and semi-attached contemporary family homes are available in 17 different villa designs and 11 floor plans. Construction of Villa Lantana is on track with completion scheduled for the end of 2015.

About Villa Lantana:

Villa Lantana is a freehold villa community for Dubai’s growing family market, launched by TECOM Investments and ideally situated in the heart of Dubai’s growth corridor of Al Barsha South.

Villa Lantana is in close proximity to Dubai’s main arterial roads and enjoys fast and easy access to the city’s primary business areas, retail and entertainment hubs, and educational establishments. Construction is currently underway with project completion set for Q4 2015.

Set in two well-planned and landscaped, gated communities, the development consists of 3, 4 and 5 bedroom detached and semi-attached family homes offering a choice of 17 different villa designs and 11

floor plans. Residents of Villa Lantana will benefit from a retail centre, parks and playgrounds, as well as sports facilities including sports centres with gyms and pools, sports courts and outdoor jogging tracks. All amenities and full landscaping will be completed in time for handover.

For further information and to register your interest, please visit www.villalantana.ae or call 800-LANTANA.

About Majid Al Futtaim

Founded in 1992, Majid Al Futtaim is the leading shopping mall, retail and leisure pioneer across the Middle East and North Africa (MENA).

A remarkable business success story, Majid Al Futtaim started from one man’s vision to transform the face of shopping, entertainment and leisure to ‘create great moments for everyone, every day’. It has since grown into one of the United Arab Emirates’ most respected and successful businesses spanning 13 international markets, employing 27,000 people, and achieving the highest credit rating (BBB) among privately-held corporates in the Middle East.

Majid Al Futtaim owns and operates 17 shopping malls, 11 hotels and three mixed-use communities in MENA, with further developments underway in the region. The shopping malls portfolio includes Mall of the Emirates, City Centre malls, and also four community malls which are in joint venture with the Government of Sharjah. It holds exclusive rights to the Carrefour franchise in 38 markets across Middle East, Africa and Central Asia, operating a portfolio of over 60 hypermarkets and over 70 supermarkets in 13 countries. 

 Majid Al Futtaim operates 129 VOX Cinema screens and 18 Magic Planets across the region, in addition to iconic leisure and entertainment facilities such as Ski Dubai and iFly Dubai, among others. Majid Al Futtaim launched the first LEGO-certified store in the Middle East and is parent to the consumer finance company issuing 'Najm' credit cards, a fashion retail business representing international brands such as Abercrombie & Fitch, Juicy Couture and Halston Heritage, and a healthcare business. In addition, it also has a joint venture operation with Veolia, a global leader in optimised environment resource management, and has expanded into food and beverage in partnership with Gourmet Gulf.

www.majidalfuttaim.com

VILLA LANTANAOPENS THE DOORS OF ITS SHOW VILLAS TO INVESTORS AS THE DEVELOPMENT ENTERS SECOND PHASE OF SALES

VILLA LANTANAOPENS THE DOORS OF ITS SHOW VILLAS TO INVESTORS AS THE DEVELOPMENT ENTERS SECOND PHASE OF SALES

After a strong sales performance and a particularly high level of interest from Emirati buyers following the launch in September 2014, TECOM Investments has announced the second phase of sales for its Villa Lantana freehold residential development in Dubai’s growth corridor of Al Barsha South.

The show villas will be open to the public for the first time from Thursday 29^th January onwardsat the Villa Lantana site, situated just off Umm Suqeim road.

Commenting on the success of Villa Lantana, Badr Al Gargawi, Chief Executive Officer, Development & Planning Division, TECOM Investments said:

“Investors are taking a long term view of the market and recognise the importance of holistic communities. As Dubai’s pattern of expansive growth continues, families are looking not only for a convenient location but also for a community that serves the whole family’s needs. Villa Lantana incorporates a balanced mix of zones which reduces the time spent commuting and leads to a healthier work-life balance for residents.”

Emirati nationals make up 43% of the total number of Villa Lantana buyers. Overall, Villa Lantana buyers are predominantly buy-to-let investors, whilst the remainder are looking for a family home.

In order to increase the options for young families to invest in their future and secure a suitable home without having to compromise on quality or location, TECOM Investments enables flexible home loan solutions through an agreement with Mashreq Bank.

Benefits available under the collaboration include high loan amounts of up to AED 15 million; loan-to-value ratio of up to 50 per cent for off plan properties; loan tenure up to 25 years; low income eligibility starting from AED 15,000 per month, and finance for salaried and self-employed UAE residents at attractive interest rates.

The contemporary villas, set in a well-planned, beautifully landscaped family neighbourhood, offer interested buyers the choice of 17 different villa designs, 11 floor plans and a range of 3, 4 and 5 bedroom detached and semi-attached family homes. The development’s close proximity to Dubai’s main arterial roads allows for fast and easy access to the city’s primary business areas, retail and entertainment hubs, with a number of leading schools having recently opened in the near vicinity.

Construction of Villa Lantana is on track and the project is due for completion at the end of 2015.

For further information, please visit www.villalantana.aeor call 800-LANTANA.