Amlak Finance sells 235 flats at SkyCourts

Amlak Finance, an Islamic mortgage provider, said yesterday it has sold 235 apartments at SkyCourts, a freehold residential project.

The development covers an area of about 238,000 sqft, with studio-, one- and two-bedroom apartments. It is located adjacent to Dubai Properties' The Villa and opposite to Academic City and Dubai Silicon Oasis.

A total of 237,564 sqft was offered at 90 per cent financing with repayment spread over 25 years for UAE residents, the company said in a statement. The 235-unit complex offers a range of amenities, which include a diverse spread of restaurants, retail outlets and entertainment options within close quarters.

"This summer has been a busy period for us as we successfully sold three residential properties, two in Remraam and the other in Discovery Gardens, in addition to the acquisition of a landmark property at Dubai International Financial Centre – Sky Gardens," said Arif Alharmi, CEO, Amlak Finance.

"We offered similar competitive financing on the 128 units within the Remraam project and have seen a great demand for all the properties launched including Mogul 202 located in Discovery Gardens. This clearly reflects Dubai's strong property market, in addition to the confidence that home owners and investors have in the real estate sector and our financing solutions in particular, such as our One Hour approval service and our recently launched Easy Start Product," he said.

SkyCourts offers a range of amenities, which include a diverse spread of restaurants, retail outlets and entertainment options within close quarters.