Uae payment terms made easier

More real estate companies and developers are offering easier payment terms for property investors in a bid to lessen the impact of the credit crisis in the Middle East...

Dubai-based Deyaar Development Company is to offer customers a more relaxed payment system. It is working on structured payment solutions for both current customers and new investors.

'After looking at the market conditions we are working on offering solutions to our clients,' said CEO Markus Giebel. He said that the global downturn might have some impact on the speed of expansion but there were no plans to cancel any projects at this stage.

Deyaar's real estate ventures span prime locations in Dubai such as Business Bay, Dubai Marina, Waterfront, Jumeirah Lake Towers, International Media Production Zone, Tecom, and Downtown Jebel Ali.

Union Properties and Emaar Properties are also offering more relaxed payments schemes. UP said it would give investors the option to rent, own or rent-to-own in any of its residential or commercial properties in its Index tower, Limestone House and MotorCity developments in Dubai.

While Emaar Properties, the Middle East's largest real estate developer, last week launched a scheme that extends property payments over five years after handover and another where potential buyers can rent a property before deciding whether to purchase it.

Qatari developer The Land has cut in half the downpayment investors need to pay when buying certain properties on the Pearl-Qatar, a manmade island being built off the Coast of Doha.

Property prices in some parts of Doha have fallen almost 50 per cent in the last month while rents have fallen up to 20 per cent.

Source: www.propertywire.com