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Emirates Bank, through its corporate banking unit in Abu Dhabi recently arranged facilities of AED 501 m for Nurol L.L.C. to facilitate execution of the Jumeirah Village - Triangle Zone 1 Project, valued at AED 835 m, awarded to the company by Nakheel.
Nurol LLC was established in 2003 in UAE, specialized in construction of bridges and tunnels, dams and construction of all types of buildings, infrastructure works as civil general contractor.
It is a subsidiary of Nurol Insaat Ve Ticaret A.S. of Turkey, one of the leading Contracting Companies in Turkey operating under the umbrella of Nurol Group Companies.
The project awarded to the company entails construction of 519 two-bedroom villas based on Arabic and Mediterranean themes and 337, one & two bedroom traditional townhouses.
The project is expected to be completed end of December 2008 and is the largest project awarded to the company till date.
Emirates Bank arranges project facilities of AED 501 million for Nurol L.L.C.
Emirates Bank, arranged facilities for Nurol L.L.C. to facilitate execution of the Jumeirah Village - Triangle Zone 1 Project.
- United Arab Emirates: Monday, July 30 - 2007 at 14:34
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About Emirates BankEmirates Bank is a leading regional financial services conglomerate based in Dubai in the United Arab Emirates and is celebrating its 30th year in 2007. Emirates Bank services include Wholesale Banking and Investment Banking through its Corporate Banking Units, Retail Banking through meBANKING distribution channels and Al Shaheen priority banking centres as well as Treasury Services.
Emirates Bank Group also offers Islamic Banking through Emirates Islamic Bank, Asset Management through EIS Asset Management, Property Development through Union Properties, Insurance through National General Insurance, Card Processing through Network International, and Brokerage Services through Emirates International Securities.
Emirates Bank was the first bank in the UAE to open a branch in the Kingdom of Saudi Arabia. The Group owns 10% stake in Bank of Beirut and is a strategic shareholder in Al Baraka Banking Group. The bank also has a branch in London and representative offices in India, Iran and Singapore. The bank signed a memorandum of understanding on mutual cooperation with JSC Bank TuranAlem in Kazakhstan with the aim to establish an Islamic Bank in the country.
Emirates Bank enjoys a solid financial position and ranks among the top UAE banks in terms of total assets and profitability. The Group has an excellent rating by International Rating Agencies. It also has firm footing in the UAE community through its corporate social responsibility programs, particularly the Al Tomooh scheme for supporting and financing small national enterprises.
For more information about Emirates Bank, please contact:
Mr. Ibrahim Sowaidan, Head of Corporate Communications, Tel: 04 2092916
Posted by Lara Lynn Golden, News EditorMonday, July 30 - 2007 at 14:34 UAE local time (GMT+4)
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Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AME Info Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / Emap Limited. AME Info FZ LLC / Emap Limited is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AME Info Web site.
For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions
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