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HSBC issued the first green mortgages in the UAE, joining lenders around the world that are offering sustainable finance products to align with their environmental, social and corporate governance commitments under the Paris Agreement.
The lender approved three mortgages for customers purchasing homes in The Sustainable City community in Dubai, the bank said in a statement on Sunday. The green home loans will be available for properties across the UAE if they meet sustainability criteria, the bank added.
The green home loans offer an interest rate discount of 0.25 per cent for properties that meet certain sustainable criteria and a 50 per cent reduction in bank processing fees, the lender said.
The three loans were approved for HSBC customers purchasing houses in The Sustainable City community in Dubai.
HSBC UAE’s green home loans offer an interest rate discount of 0.25 per cent for properties that meet certain sustainable criteria, and a 50 per cent discount on applicable arrangement fees.
“Sustainable development is more important now than it’s ever been and it’s vital that banks support customers with competitively priced green finance, and to encourage more sustainable behaviours. Issuing the UAE’s first-ever green mortgages is a significant moment for the country’s housing and financial markets, and demonstrates the appeal of green retail finance to customers looking to make more sustainable decisions while appreciating the financial upside,” said Daniel Robinson, Head of Wealth & Personal Banking at HSBC UAE.
Shurooq unveils special Ramadan offer for Sharjah Sustainable City
SHARJAH, 22 hours, 33 minutes ago Sharjah Investment and Development Authority (Shurooq) has unveiled a limited-time Ramadan offer for a range of modern and sustainable villas within its eco-friendly community project, Sharjah Sustainable City including a special monthly payment plan and waiver of service charges for the first five years. Developed by Sharjah Investment and Development Authority in partnership with Diamond Developers, Sharjah Sustainable City is a mixed-use development that meets the highest standards of social, environmental and economic sustainability. Extending over an area of 7.2 million sq ft in Al Rahmaniyah, Sharjah, the project comprises stylish and modern 3, 4 and 5-bedroom townhouses and corner units with a contemporary design distinguished by innovative architecture that maximises living space.
Dubai: A delegation from Dubai’s Community Development Authority (CDA) visited Sanad Village in The Sustainable City to learn about the centre’s approach that sets up “a new global standard” for the rehabilitation, inclusion and empowerment of people of determination.
Led by CDA Director-General Ahmad Julfar, the delegation toured the 30,000-square-metre facility, learning about the sustainable concepts and observing children who benefit from the centre’s approach, towards treating and understanding autism and other related disorders.
The delegation visited the residential area, followed by the classrooms and therapeutic facilities where children are assessed as a continuous part of Sanad Village care. During the tour, Julfar interacted with therapists and specialists, who work alongside each other to monitor progression in a child’s journey towards self-reliance.