UAE-based Danube Properties, UAE’s leading property developer, has signed a MoU with the Bank of Baroda, one of the top Indian banks present in emirates, to provide home loan to the investors of its Dreamz By Danube project against their property purchase.
Dreamz is the first project launched by the group at Dubai’s Al Furjan neighborhood. Spread over an area of 700,000 sq ft, it offer villas with three- and four-bedrooms. Moreover, the property also houses state-of-the-art amenities including a gym, swimming pool, sauna and children’s play area.
This MoU is a statement of intent to give customers, a chance to apply for home loans at a rate of interest that is as low as 3.5 per cent per annum, said Rizwan Sajan, the founder and chairman of Danube Group after signing the agreement with Suhas D. Sontakke, deputy general manager of Bank of Baroda.
“We are happy to offer our customers with finance for our Dreamz Project. The primary reason for signing of the agreement is to enable our customers to mortgage their properties and get loans. We hope to have a fruitful partnership with Bank of Baroda and want to ensure that we can provide promising solutions for our buyers," stated Sajan.
The Bank of Baroda has been ranked as one of the top Indian banks present in UAE since 1976.
The valuable exchange of professional knowledge and best practices shared in this partnership will significantly sharpen Danube’s Goal toward providing value-added services to their diverse customer base, said Sontakke.
Explaining the USP of the bank's housing loan scheme, Sontakke said a dedicated desk had been set up by bank for speedy sanction of loans to eligible customers and these could be availed from any of the branches of Bank of Baroda in UAE and other GCC countries.
The signing ceremony was attended by Anis Sajan, the managing director of Danube Group, Atif Rahman, the general manager of Danube Properties, Vineet K. Dudeja, the chief executive of Bank of Baroda (GCC Operations) and members of the senior management and bankers.-TradeArabia News Service
Danube inks home finance deal with top Indian bank
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