Another first by ARY in association with NBQ

Present at the press conference were Haji Abdul Razzak Chairman of ARY Group, Mr. Syed Ali Samir Bukhari (CO. Relationship Manager, NBQ) and Mr. Alok Pant (Head Of Banking NBQ). A part of the unsold project has been successfully registered and mortgaged in the Dubai Land Department for the facility provided by National Bank of Umm AL Quwain.

Mr. Syed Ali Samir Bukhari said "This is a lead step from us, and NBQ is proud to be the first Bank to successfully mortgage and finance a free hold project in Dubai for a private developer with registered units in the Dubai Land Department. "

Mr. Syed Ali Samir Bukhari and Mr. Alok Pant further added "This is our first venture with ARY Group under the guidance and support of Dubai Land Department, and we are in further talks with ARY to finance their other projects in Dubai and in Umm Al Quwain. Additionally home mortgage finance is a growing segment within Retail Banking in the U.A.E, this transaction establish NBQ's footprint in this growing segment".

'ARY MARINA VIEW' is a multi- storey residential tower, which includes one, two, & three bedroom apartments and five bedroom waterfront villas, situated on the stretch of Dubai Marina.

Haji Abdul Razzak said "as the first step is done now, in the second phase these free hold apartments shall be transferred in the names of our valued customers and register with the Dubai Land Department who will issue a freehold 'Title Deed' in the name of the individual unit owners to fulfill the commitment made by the Government of Dubai to the foreign investors".

He further added that we appreciate and are thankful to the Dubai Land Department for all the cooperation that they have extended to us and also Mr. Syed Ali Samir Bukhari from NBQ who impressed us by his professional approach in understanding our financial need and delivering it in an unbeatable and timely manner.

Other ongoing project by ARY Properties are, The Digital Tower located at the Dubai Media city, Arum Plus a state of the art refining and manufacturing plant, ARY Marina Piers located at the Dubai Marina and ARY Resendicia in International City Of Dubai.