Abu Dhabi's state tourism development company TDIC has signed a deal with Abu Dhabi Islamic Bank to start offering investors buying luxury homes on Saadiyat Island 100 per cent mortgages of up to Dh30 million (US$8.2m).
The developer behind ambitious plans to develop a cultural zone on Saadiyat Island, including the Louvre and Guggenheim Museums, said in an announcement yesterday that loans would be repayable over a period of 25 years with a profit rate starting at 4.99 per cent.
The offer, it said, was open to expats resident in the UAE as well as UAE and GCC nationals.
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