Developer announces payment relaxation of up to 1 year for all its freehold projects in Dubai and Ajman during the show

February 19, 2009
Chapal, one of the leading freehold property developers in Dubai and Northern Emirates, has concluded an extensive participation at the ‘International Property Show - Dubai 2009’, which has wrapped up recently at the Dubai International Exhibition Centre. During its participation, the developer announced an offer to current investors and property buyers whereby they could avail of an extension in payment schedules of up to one-year for its freehold projects in Dubai and Ajman. Furthermore, company officials also revealed that existing Chapal clients participating in this offer could be eligible to receive further waiver of any penalty charges that are normally applied for late payments.

The announcement is part of the Chapal’s 40th year celebration of business success, with the developer giving interested buyers 40 days to register and avail of this excellent offer. The extension in payment schedules is expected to benefit thousands of investors and property end users who have booked apartments and villas in Chapal's freehold projects in Dubai Sport City, Jumeirah Village Dubai, Emirates City Ajman, Emirates Lakes Towers and Chapal Flora Residences.

"Chapal's commitment and care for the community is at the forefront of our policy decision making. Noting the prolonged effect of current economic downturn on the end-user, we felt that there was a genuine need to support apartment and villa buyers in our projects", said Ahmed Chapal, Executive Director, Chapal. “In addition, our payment terms are being relaxed and are also being reviewed to support buyers of plots in our master development in Ajman.”

The ‘International Property Show - Dubai 2009’ has featured prime real estate projects from the UAE and across the globe, which attracted high net-worth individuals, commercial and residential investors and specialised visitors from the property industry. The organiser has also revealed that the three-day event witnessed the participation of over 150 exhibitors from over 20 countries. The show has leveraged its strong repute as the definitive event for companies seeking to establish strong personal relationships with worldwide players in property and investment industries.
“The success that the show has achieved given the challenging position the majority of the developers and investors are in right now is indicative of the capacity of the ‘International Property Show - Dubai 2009’ to stimulate activity within the real estate sector. This year, we have seen a diverse group of local, regional and global real estate players at the event who have sought the extensive opportunities this event can provide in terms of expanding their networks and securing multibillion deals. In addition, we are also delighted to have welcomed Chapal World and other established developers across the globe, which underlines the growth in scope, depth and influence of this annual event,” concluded Dawood Al Shezawi, Managing Director, SME.

About International Property Show - Dubai 2009:

Strategic Marketing and Exhibitions is specialized in organising international exhibitions to support the development of various economic sectors and to promote investments in several industries, with aims of offering clients, participants and attendees great opportunities to access existing potential and emerging markets, gather complete information about markets’ current state and tendencies, acquire commercial profit, find new partners and conclude business transactions. SME launched the ‘International Property Show’ in 2005 as an annual event originally held in Dubai, to bring together international and regional exhibitors, property developers, financiers, real estate agents and consultants, designers and others involved in the local, regional and global real estate industry. The company has recently expanded its reach via the launch of ‘International Property Show Moscow 2008’, which is aimed at attracting major Russian and European investors into the UAE.

About Chapal:

CHAPAL believes that success is achieved by listening to and meeting client's needs in all aspects of Real Estate both project schedule and investor sensitive. For more than 40 years, Chapal has developed building concepts of superior and lasting integrity and carefully managed their implementation. In doing so, Chapal has created a most sought after signature style applauded by highly discerning consumers.

An important priority for the company is to push the boundaries of modern architectural design, to create projects that will sustain as iconic landmarks. Structures that cover the spectrum from exclusive residential properties to dynamic commercial buildings, across Dubai and the Northern Emirates
A company with 20 billion dirhams property portfolio , Chapal operates within the most lucrative property market in the UAE as well as maintaining close ties with its global network of offices and registered representatives located in London, Singapore, Karachi, India, Saudi Arabia and Toronto.
For more information, please contact:

CommuniGate Middle East

PO Box 66861, Dubai, UAE

Tel: +971 4 3988134

Fax: +971 4 3988137

Email: info@communigateme.com

Website: www.communigateme.com