Tamleek signs Pre Sales funding agreement with the Housing Bank for Trade and Finance

Through the contract signed Tamleek will now be able to provide funding through the bank for people wishing to purchase real-estate properties in Jordan.

The contract was signed by Mr. Muayad Al Dabbas, Chairman and CEO of Tamleek Real-Estate Investment and Development, and Mr Kamal Yaghmour, Head of the Individuals Banking Sector at the Housing Bank for Trade and Finance.

Under the arrangement, the Housing Bank will facilitate easy financing options to the prospective buyers for owning property within Tamleek's Jabal Amman Residence Project. The agreement stipulates that the Housing Bank will provide Tamleek's clients with loans payable with competitive interest rates and within a flexible payment terms.

Mr. Dabbas affirmed that the management at Tamleek Real-Estate and Development is in fact very happy to be working with the Housing Bank of Trade and Finance, a premier financial institution in Jordan, and that through this agreement Tamleek is granting large segment within the local community the opportunity to own real-estate projects within the Jabal Amman Residence project.

"We carefully studied and structured a strategy to provide our clients with a full range of investment and funding services, which is why we decided to join forces with the Housing Bank. These services will only help turning people's hopes in owning high quality and state of the art properties into tangible and attainable realities," he said.

From his end, Mr. Shukri Bshara CEO of the Housing Bank for Trade and Finance added that this agreement stems directly from the bank's aims to play a pivotal role in the development of Jordan's national economy. He further stated that the bank constructs well studied strategies geared towards funding real-estate projects.

"We at the Housing Bank always encourage further advancement in the real-estate sector. for such initiatives encourage further growth for our national economy. This agreement falls inline with our well studied credit and funding strategy, as our strategy initially caters to development, investment, and real-estate projects like this one. We at the bank employ all our financial capacities for the sake of developing our national economy as we are fully our that the finance sector is a key component in Jordan's journey towards further development.

Tamleek is a key player in Jordan's Real-Estate and development arena that had made its mark on the local market by providing real-estate projects that adhere to the highest standards of quality.

It is important to note the Jabal Amman Residence project is located in the 3rd Circle area in Amman, one of the quieter areas of the capital. The project comprises of three buildings, two of which are attached to one another with a joint elevator and staircase. The third building making up this project is a separate one and comes with its own set of utilities The three residential buildings consist of five floors, all containing 325 to 350 meter squared apartments. An additional service floor is added to each building making up this residential complex. Other services in the Amman Residence project include two parking spaces for each apartment and a play area for kids.

The Housing Bank for Trade and Finance was established in 1973 as a public shareholding limited company to provide housing finance. After 24 years of operations, the bank started a new era, whereby it was converted to a comprehensive bank, providing full commercial and investment banking services. The bank's capital was increased several times, and currently amount of JD(252) million the equivalent of USD(355).