fbpx
Join eProperty WhatsApp Channel

Join Pakistan’s Most Popular Whatsapp Channel for Property New Updates and Daily Prices

HOT | PLOTS | BOOKINGS | UAN: 03 111 042 111

eProperty®

Learn, Share & Grow

Buy and Sell in CBD Punjab

114 Dubai projects registered under ‘guaranteed funding’ plan

The number of projects registered under the Dubai Land Department’s (DLD) Tayseer programme has reached 114 and the first funding agreement under the scheme is expected to be finalised soon, a senior official told Emirates 24|7.

“The second phase has already started with the number of projects approved under Tayseer programme now standing at 114. Discussions are currently underway between one bank and a developer for funding under the scheme,” said Majida Ali Rashed, Senior Counsel Strategy, DLD.

She added: “Tayseer is a sophisticated formula for funding which links banks on one hand and real estate projects with high guarantees and feasibility on the other. The programme is designed to move the real estate sector towards a new development stage through support and offering financial facilities on the basis of specific criteria.”

Until now, seven banks have signed with the DLD for financing under the Tayseer initiative. The banks are: Emirates Islamic Bank, Abu Dhabi Islamic Bank, Abu Dhabi Commercial Bank, Noor Islamic Bank, Mashreq, Dubai Bank and Ajman Bank.

Tayseer was launched in June last year with 40 projects in Business Bay, Dubai Marina and Jumeirah Lake Towers being approved in the first phase. The move was aimed to significantly boost liquidity in the market and bolster confidence in Dubai’s real estate sector.

For projects to be selected and accredited under the programme, it should be registered with the department; should not be less than 60 per cent complete; must have an escrow account; be moving forward as per the construction schedule; and have a competent contractor who can deliver on time.

Asked how often does the department review schedules of the approved projects, Majida said: “After the necessary funding is obtained, we will be able to adopt an agenda to commence construction and conduct technical audits every three months.”

Property buyers can also benefit from Tayseer, as the programme is now enrolling banks that offer end-user financing for the approved projects.

Majida adds: “Tayseer was introduced to facilitate promotion of real estate investment and ease lending to the sector. Since the start, banks have been given the right to choose between project financing and financing individuals.

“For certain, investors buying in the approved project will get priority from the banks, but the terms and conditions of the deal have to be finalised by them only.”

114 Dubai projects registered under ‘guaranteed funding’ plan
eProperty WhatsApp Community

Join the eProperty Community for daily Pakistan Property rate updates, the latest developments, and news.

eProperty WhatsApp Community

Property buying and selling was never easy before; simply connect with our WhatsApp hotline for absolutely free property consulting. Please save this number, +923111042111 in your contact list to get regular updates from us; otherwise, you will not receive any updates.

114 Dubai projects registered under ‘guaranteed funding’ plan
Scroll to top
Open chat
WhatsApp Hotline
السلام عليكم ورحمة الله وبركاته

مہربانی فرما کر ہمارا نمبر 00923111042111 اپنے موبائل کی رابطہ لسٹ میں محفوظ کر لیں۔ اگر یہ نمبر آپکے موبائل کی رابطہ لسٹ میں محفوظ نہی تو آپ کو ہماری طرف سے تازہ معلومات موصول نہی ہوں گی۔

Kindly save this number in your contact list for future updates. You will not received our WhatsApp updtaes if this number +923111042111 is not saved in your contact list.

Atif Iqbal from eProperty®