Distressed Sale - Abu Dhabi Villa

riced to sell. I have investors looking to sell the following 4 bed villa at Alghadeer, Abu Dhabi:BUA: 3230 sq ftPlot area: 3370sqft, corner siteView: Garden view close to park/pool/facilities. Close to Abu Dhabi and Dubai, all facilities.Completion: Jan 2011Payment plan: 10% paid, 5% due next June 2009 and then every 6 mths. 40% on completion.Developer: Sorouh Real Estate PJSC (Sorouh.com / Home-Page)OP: AED1471sqft BUA, 10% paid in March 2008Sale Price: 1418sqft BUA netAmount payable to seller: AED450,000 including sales commission (i.e. less than paid upfront)This is priced for a quick sale. The vendors are not seeking a premium and are selling at a loss. This represents good buying and a quality investment for someone. Construction underway. Forecast yields still 9-10%.

Mortgage finance for the above Alghadeer villa is available from ADCB, Abu Dhabi Finance House, Al Wifaq, NBAD, RakBank, HSBC and others. All of the main banks will fund Sorouh projects and in particular Alghadeer given its prominence and the security of investment offered.LTVs from some of the banks are now creeping up with 90% funding from ADCB and RakBank available to approved customers. ADCB's current interest rate ranges between 7.25%-7.75%.The above villa is priced exceptionally well and will provide very good investment returns of 9-10% annually.

On behalf of investors, I am selling the following Alghadeer property at an under market price (40% discount):1. Property is a ground floor 1 bed terrace (909.28sqft gross BUA and 655.52sqft net) with its own private rear courtyard, which then leads to a shared park and a pool for the exclusive use of the terrace residents. 1 exclusive car park allocated to the property.2. Great location close to international school, shops, cafe and parks.3. Price is 990sqft - total purchase cost is AED 648,965 (0% premium). The payment to seller is t AED 474,692 including sales commission.4. Payment Plan - nothing further to pay until handover. At handover (2012), the balance to pay is AED 174,272.This is a high quality property with fantastic investment prospects. Nothing further to pay until handover. Forecast yield of 12.75%.