Emaar offers purchase option for tenants at The Greens

Dubai, UAE, February 8, 2007: Emaar Properties is offering the tenants at The Greens residential project the option of buying their leased home. To assist them with purchase plans, Emaar has joined hands with Amlak Finance to offer 97 per cent of the total cost as home finance support. 

“There is a huge demand for quality residences in Dubai and people increasingly prefer to stay in their own homes than pay rents,” said Mr Ahmad Al Matrooshi, Managing Director - UAE, Emaar Properties. “The Greens is one of only two rental residential developments of Emaar, and there have been several requests from our tenants to buy the homes. We are repaying the trust our clients have placed on us by providing them with the first option of buying the homes they live in.”

Hamptons, the property management services company, will handle the purchases for the tenants and arrange the pre-approved home finance from Amlak. Residents who do not wish to purchase the homes can continue to stay in their homes as tenants.

Emaar has informed all residents of the decision through a letter that also details the price and payment details of the apartments. Residents need to inform of their decision on the purchase within two weeks. 

Emaar will continue to manage The Greens community and support the infrastructure maintenance as it does with its other residential projects together with the help of home owner committees.