Dubai’s Shaikhani Group raises the stakes by going past the 5- and 7-year norm

HSOHU

The Dh220 million Gardenia project launched by the Shaikhani Group. For its Jumeirah Village South project.

Dubai: Post-handover payment plans in Dubai are now being stretched to 10 years. And even longer, as the length of payment periods turn into one of the key sales tools developers are deploying to close a deal.

For its Dh220 million Jumeirah Village South project, the Shaikhani Group plans to offer a package where 50 per cent of the instalments can be made after the handover. And this is the portion that can be stretched up to 10 years. “But our banks have said they might be willing to even consider 15 years based on the buyer’s portfolio,” said Mohammad Shaikhani, Managing Director. “I don’t think too many developers are having 10-year terms. The way to get buyers interested is to ease their monthly expenses. Being creative on the handover terms does just that.”

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