The signature of the mortgage facility with NBAD is one of ALDAR's first agreements for the financing of prospective purchasers for its developments.
Commenting on the signing of the MOU, ALDAR Properties, Chief Executive Officer, Ronald Barrott said, "This financial arrangement with National Bank of Abu Dhabi will be beneficial to ALDAR purchasers as the bank will structure individual finance packages for our different projects and provide tailor made solutions for each customer. We are delighted that we have been able to generate such a beneficial partnership with one of Abu Dhabi's leading financial institutions."
Mr. Saif Ali Monakhas Al Shehhi, General Manager of Domestic Banking Division at NBAD said, 'ALDAR Properties is an ideal partner, they are a leading real estate developer whose projects are setting new standards in property development in the UAE.
This agreement will allow us to create easy and practical banking finance applications which will provide tangible benefits to customers. This is in line with NBAD strategy to offer unique solutions in the property finance sector."
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ALDAR Properties signs memorandum of understanding with National Bank of Abu Dhabi
- United Arab Emirates: Wednesday, November 29 - 2006 at 10:21
- PRESS RELEASE
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Abu Dhabi's largest developer, ALDAR Properties PJSC has signed a memorandum of understanding with the National Bank of Abu Dhabi to provide mortgage facilities to its property buyers.
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Posted by Janeta Novakovic, Assistant News EditorWednesday, November 29 - 2006 at 10:21 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
This article was updated on Sun Dec 03 2006.
Notes and Media Contacts »
For further information, please contact:
Karen Lay at SAREEM INTERNATIONAL,
Tel: + 971 4 395 5912
Fax: + 971 4 395 5913
OR
Shamma Al Nuaimi - Media Manager
ALDAR PROPERTIES PJSC
Tel:+ 971 2 696 4444,
Fax: + 971 2 641 7504
ALDAR Properties:
ALDAR Properties PJSC is a premier real estate development, management and investment company headquartered in Abu Dhabi, UAE. The company was formed as a result of an initial Public Offering (IPO) of shares. The PJSC was created under Emiri Decree No 808 of 2004. ALDAR Properties PJSC is owned by leading Abu Dhabi institutions, founder shareholders and individual investors
ALDAR Properties PJSC was created to fast track real estate investment opportunities, and to offer an opportunity to participate in the prosperity of this increasingly important industry in the UAE.
The current property portfolio includes major developments and re-developments within Abu Dhabi Emirate, such as the Central Market in Abu Dhabi, the Al Raha Beach Development ,Al Gurm Resort, Al Mamoura - the Mubadala Development Company and Environment Agency Abu Dhabi Headquarter Building in Abu Dhabi, and Al Jimi Mall Expansion in Al Ain.
Karen Lay at SAREEM INTERNATIONAL,
Tel: + 971 4 395 5912
Fax: + 971 4 395 5913
OR
Shamma Al Nuaimi - Media Manager
ALDAR PROPERTIES PJSC
Tel:+ 971 2 696 4444,
Fax: + 971 2 641 7504
ALDAR Properties:
ALDAR Properties PJSC is a premier real estate development, management and investment company headquartered in Abu Dhabi, UAE. The company was formed as a result of an initial Public Offering (IPO) of shares. The PJSC was created under Emiri Decree No 808 of 2004. ALDAR Properties PJSC is owned by leading Abu Dhabi institutions, founder shareholders and individual investors
ALDAR Properties PJSC was created to fast track real estate investment opportunities, and to offer an opportunity to participate in the prosperity of this increasingly important industry in the UAE.
The current property portfolio includes major developments and re-developments within Abu Dhabi Emirate, such as the Central Market in Abu Dhabi, the Al Raha Beach Development ,Al Gurm Resort, Al Mamoura - the Mubadala Development Company and Environment Agency Abu Dhabi Headquarter Building in Abu Dhabi, and Al Jimi Mall Expansion in Al Ain.
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