Abu Dhabi – UAE, April 28, 2015: Abu Dhabi Finance (ADF), one of the UAE’s premier providers of innovative, flexible and transparent residential and commercial mortgage products to the local market, is delighted to announce that it has signed a Memorandum of Understanding (MOU) with Hydra Properties to finance its new Hydra Village and Hydra Avenue developments.
Hydra Village is located in Shahama, Abu Dhabi, and consists of 448 units of residential properties (villas and townhouses). Hydra Avenue is located in Reem Island, City of Lights and consists of 906 studios, 1 and 2 bedrooms apartments. Both developments are complete and sales of the units have already begun.
This agreement will allow investors in these Hydra developments to enjoy ADF’s award winning mortgage products and customer service, for example ADF’s is currently offering one of the lowest interest rates in the market at 3.29% for a fixed rate mortgage.
Chris Taylor, Chief Executive Officer of ADF, said: “We are delighted to add these Hydra Properties to our portfolio; at their current rates they represent good value for potential buyers. It is testament to our unique blend of market leading mortgage products and award winning customer service that we are becoming the mortgage provider of choice for residential developments in Abu Dhabi and Dubai.
Mohamad Al Habech , Chief Commercial Officer of Hydra Properties, said: “Nowadays, the ability to offer a complete and comprehensive customer journey complemented with ‘All-in-Living’ elements is more crucial than ever. Our clients will embrace life on Reem Island as the new destination in Abu Dhabi. Together with Abu Dhabi Finance, we seamlessly created a new platform for investors to enjoy and benefit from such destinations.”