The UAE's National Bonds Corporation, creator of the popular nationwide savings program National Bonds, today announced the launch of 'Sky courts,' an upscale and affordable freehold residential community in the heart of Dubai land Residence Complex, the emirate's upcoming leisure, tourism and entertainment destination.
The AED 1.5 billion Sky courts development, scheduled for delivery in the first half of 2009, will offer over 2,300 apartments across six towers. Apartments will range in size from studios to two-bedroom units, with prices from AED 279,000 to AED 898,000.

'Property provides many people a long-term investment opportunity, and gives people a chance to feel secure and proud to be living in UAE,' Al Shaikh said. 'Property has become less affordable over recent years, however, and therefore out of reach as an investment opportunity. We hope Sky courts will readdress this balance by making property more affordable.'

Abdul Aziz Al-Muhairi, CEO of Dubai Bank, said the bank will provide all buyers with Shari'a-compliant financing under highly competitive terms, including a rate of 8.5 per cent for up to 20 years.

'Dubai Properties is keen to provide a variety of residential options for the residents of the UAE, and we look forward to welcoming Sky courts residents to the heart of Dubai's new destination,' he said.

The strategically located Sky courts will overlook the luxurious 'The Villa' project and a number of Dubai landmarks, and will be easily accessible from key arterial roads including the Al Ain Road and Emirates Road.

Sky courts residents will also have access to world-class recreational and leisure amenities including health clubs and swimming pools, rooftop gardens and cafes, shops and free parking.