Abu Dhabi - An island resort in the United Arab Emirates (UAE) has come up with a residential complex where people will be able to rent an apartment for three years, and at the end of the lease period choose an option to own it.
The Tourism Development and Investment Company (TDIC) launched the lease-to-own payment programme for the exclusive apartments at The Residences at The St. Regis Saadiyat Island Resort.
Under the three-year rent plan, prospective homeowners will pay an annual rent which will be a fixed one from the start of the agreement.
If the tenant decides to buy the property at the end of the plan, 100 percent of the first year's rent, 90 percent of the second year's rent and 80 percent of the third year's rent will go towards the down-payment of the property.
The three-year lease-to-own plan includes benefits such as no exit penalty as well as the option to sub-lease the property for the duration of the plan.
The rent starts from 86,000 dirhams (around $23,400). The apartments are also available for direct sale.
| Other Articles: |
 |
Sensex rises 102.09 points, banking, realty stocks rally (17th Apr, 2012) |
|
Foreign firms keen to manufacture Aakash 2 in India: Sibal (17th Apr, 2012) |
|
World Bank picks 'US choice' Jim Yong Kim as new chief (17th Apr, 2012) |
|
Tilaknagar Industries' plants get 'mega project' status (17th Apr, 2012) |
|
China confident of growth in foreign trade (17th Apr, 2012) |
|
India's growth pegged at 7.3 percent, inflation at 6.5 percent (17th Apr, 2012) |
|
Bloggers: Latest brand ambassadors to sell products (17th Apr, 2012) |
|
Sensex rises 110 points, banking, realty stocks rally (17th Apr, 2012) |
|
Failure to tackle green issues could hurt growth: Ecologists (17th Apr, 2012) |
|
India's central bank cuts rates to push growth (17th Apr, 2012) |
|
India's central bank cuts key rates (17th Apr, 2012) |
|
Pandit's Citi makes profit with India sale (17th Apr, 2012) |
|
Coal India to ink fuel supply pact by April 20 (17th Apr, 2012) |
|
Coal India to ink fuel supply pact by April 20 (17th Apr, 2012) |
|
Vedanta Group's Agnivesh picks up 60 percent stake in Primex Healthcare (17th Apr, 2012) |
|
BSNL launces six internet data centres for cloud services (17th Apr, 2012) |
|
STAR News would be ABP News soon (17th Apr, 2012) |
|
Inflation declines marginally, RBI rate cut seen (17th Apr, 2012) |
|
Growth will improve, but inflation will stay sticky: RBI (16th Apr, 2012) |
|
Crime, taxes may force many Britons to leave (16th Apr, 2012) |
|
Nigerian bank deploys Infosys' Finacle software (16th Apr, 2012) |
|
Kerala CM to make major pitch for investment (16th Apr, 2012) |
|
Pakistani designers take back bagfuls of business - and memories (16th Apr, 2012) |
|
Sensex closes 56 points up on interest rate cut hopes (16th Apr, 2012) |
|
Tata Motors global sales up 26 percent in March (16th Apr, 2012) |
|
Jobs |
Blog |
Yellow Pages |
Games |
Jokes |
Chat |
e-Cards |
Astrology |
Articles |
Recipes |
Send Gifts
Today : Thursday - Jun 20, 2013, 06:56am (GMT+5.5)
