ARAB BANK House Loan - Expat
|Minimum Salary needed
|Maximum amount available
|Length of Loan
|Upfront Fees ( if any )
||Financing up to up to 70% of the market value of the property;
||Grace period of up to 45 days; Preferential insurance rates; Proof of Down payment; Ownership certificate of the financed property; Property purchase and sales agreement / contract;
Arab Bank, founded in 1930 in Jerusalem, is often noted as being the first privately held Islamic financial institution in the Arab world. The bank’s current headquarters are based in Amman, Jordan with more than 600 subsidiary branches located throughout the world. The bank has played a significant role in the growth of its home state, Jordan. Moreover, it has also facilitated the economic growth of a number of other countries in the Middle East and North Africa region. Over the years, the bank has won numerous awards including the “Best Cash Manager” award in 2013. In the same year, it was also recognized as the best regional bank by Arabian Business and Euromoney Magazine, a leading financial magazine based in the U.K.
Arab bank’s house loan option allows expatriates to borrow up to 70% of their required financing to own their own dream home. Expatriate clients get a conveniently long loan tenure of up to 15 years as well as preferential insurance rates for their loans. Moreover, clients also get a grace period of 45 days on this loan option. Other features of this option include competitive interest rates, quick application processing times as well as a dedicated sales team. It should be noted that expatriate clients are required to provide a valid Resident visa as well as proof of down payment and ownership certificate of the financed property when applying for this particular loan option.
One notable area to visit in Doha is the Villagio shopping mall which lies in the Aspire Zone. The Villagio is an Italian-themed shopping mall complete with a 150 meter long canal that runs between the shops. Visitors to the shopping mall can ride on the gondolas to go between shops. Alternatively, they may visit the Gondoliana theme park. This indoor theme park features an ice rink as well as one of the only two hockey rinks present in Qatar. The recently re-opened mall was heavily renovated following a fire in 2012 and features a number of new, additional luxury stores.