SDIC signs customer home financing deal with bank

SDIC signs customer home financing deal with bank
The Hidd Al Saadiyat residential community under construction
Published: 12 July 2014 - 11 a.m.
By: Cathal McElroy

Saadiyat Development and Investment Company (SDIC) and Al Hilal Bank have signed a customer home finance agreement for the developer’s upcoming villa project in Abu Dhabi.

The Hidd Al Saadiyat residential community will consist of 452 villas, commercial centres, hotels, apartments, beach clubs and amenities on a 1.5mn sq m site running along 7km of beaches on Saadiyat Island.

SDIC said that under the strategic partnership agreement potential home seekers and investors will be offered competitive home finance options to help own their dream homes.

Through the agreement with Al Hilal Bank, SDIC is increasing the number of competitive mortgage options available to buyers interested in the project, managing director Mounir Haidar said.

“Hidd Al Saadiyat is a one-of-a-kind project in Abu Dhabi. The interest that the project has generated so far is a clear indicator of the growing demand for high-calibre, resort-style community living close to the city.

"Given the solid reputation of the leading Islamic bank, Al Hilal Bank, we are delighted to have partnered with them for providing home financing options to our prospective clients,” he added

Al Hilal Bank CEO Mohamed Jamil Berro said the deal further strengthens Abu Dhabi’s real estate segment.

“We look forward to working closely with SDIC – offering key home financing opportunities for their potential buyers and helping them realise their dreams of owning their own homes," he said.

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