Lease-to-own programme launched for Saadiyat Island apartments

The Tourism Development ‘&’ Investment Company launched a competitive lease-to-own payment programme for the exclusive apartments, which form part of The Residences at The St. Regis Saadiyat Island Resort – an exclusive residential community on the island.

The lease-to-own offer is available exclusively for one building within the residential complex and residents will be able to move immediately. The offer comes following the launch of the highly-successful leasing campaign during which all of the first-phase apartments were rented within a month.

Under the three-year plan, prospective homeowners will pay an annual rent which will be fixed from the start of the agreement. If the tenant decides to buy the property at the end of the plan, 100 per cent of the first year’s rent, 90 per cent of the second year’s rent and 80 per cent of the third year’s rent will go towards the down payment of the property.

The three year lease-to-own plan includes excellent benefits such as no exit penalty or service charges as well as the option to sublease the property for the duration of the plan. The apartments consist of studios – one – two – three and four bedrooms, and the rent starts from AED 86,000 which can be paid in four cheques, and TDIC has also partnered with a number of leading banks to offer attractive financing options. The apartments are also available for direct sale.

Ahmed Al Fahim, Executive Director of Marketing, Communications, Sales ‘&’ Leasing at TDIC said: “Limited number of these exclusive apartments is available on a lease-to-own basis. We believe this is an outstanding plan as it offers prospective homeowners the opportunity to build towards owning a home within one of Abu Dhabi’s most prestigious residential communities. Saadiyat continues to blossom into one of the region’s most unique destinations making it the smart choice for both investors and those looking for their perfect home.”

Prospective homeowners who take advantage of this exclusive offering will have the opportunity to own their apartment by 2015 – the year the Louvre Abu Dhabi will open on Saadiyat – making this a once-in-a-lifetime investment opportunity.

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