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International City Dubai Covering almost 800 hectares (8 million sq m.), the International City project will contain studios, one and two bedroom apartment units and accommodate over 60,000 residents. With phase 1 already complete, the other phases are well underway. Are you a current owner of one of the units? Have you got any useful information to share with others? Are you considering an investment here? Whatever the issue, you can openly talk about International City here.

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malachi9b6 Offline
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Default Finance For International City - 07-03-2007, 01:04 PM
Anyone know of a finance company that will finance properties in International City??

I plan to buy a property there to rent and have tried contacting Amlak and Tamweel but their service is atrocious and the staffs have no clue as to what they offer.

Thanks
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drew95k9 Offline
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Default Re: Finance For International City - 08-03-2007, 08:14 AM
Other than the other two you mentioned (biggest two) there is

HSBC, ADCB, RAKBank, and Barclays. But I think Tamweel is the one doing financing for international city if you’re buying from developer. If you are buying from the secondary market you can go with whomever you want.

I can recommend RAKBank.
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damien9k28 Offline
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Default Re: Finance For International City - 08-03-2007, 08:50 AM
Thanks!

I’ve been looking around and the max that they are willing to finance is around 70% of the market value

Interest rates have climbed to over 8% now
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leonardo99b7 Offline
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Default Re: Finance For International City - 08-03-2007, 09:54 AM
I think banks are a little overexposed hence the worry. Out of curiosity though what are they claiming market value at for International City? If you don't mind sharing.
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