Darkom signs an agreement with Bindar Trading and Investment Company

The agreement signed will enable Darkom to provide Bindar's clients with affordable housing loans, lower down payments, and more lucrative payment conditions aligned with competitive interest rates.

The signing ceremony took place on August 1st, 2007 at Darkom's headquarters located in Shmesani. The agreement itself was signed, by Mr. Waseem Wael Zurub General Manager of Darkom and Mr. Bassam Hammad General Manager of Bindar. The signing ceremony took place in the presence of Darkom's Chairman of the Board, Dr. Fayez Tarawneh, and Mr. Rami Hadidi the Deputy Board Chairman of Bindar.

Commenting on the services provided by Darkom, and the recently signed agreement, Dr. Tarawneh said, "We at Darkom operate to provide a home for every citizen, and we achieve this goal by working with lenders to grant their clients access to mortgages with low down payments and extended amortization periods up to 30 years. We also work to offer reduced monthly installments, and improve accessibility to housing funding schemes for young buyers, entrepreneurial or self-employed home buyers, as well as mid to low income households. Our services also encourage lenders to pursue high-ratio lending, and we achieve our goals through a carefully studied strategy founded on the consultations we get from our international technical advisors, the Canada Mortgage and Housing Corporation (CMHC), and the support of United Arab Investors Corp. (UAIC), who on their part encourage partnerships like the one we are celebrating."

Bindar is a trade, investment, and financial company, which is also a public shareholding company that was established in 2004 and is listed in the Amman Stock Exchange.

Mr. Zurub added that Darkom is very proud of the agreement signed with Bindar Trading and Investment Company, "We are honored to be working with a market leader in the field of trade and investment, it is through the expertise of the members of Bindar's team that we at Darkom will move closer to our goal of reducing the average age of real-estate buyers in Jordan. At present the average age in which Jordanians are able to afford their own housing unit is 44, and incidentally this figure is higher than that recorded for most, if not all, neighboring countries. The low purchasing power experienced by young Jordanians is not only due to inflation but also a direct result of the many obstacles placed on buyers by local lenders. Our partnership with Bindar will allow us to provide securities for all parties involved in the lending and borrowing process and we are confident that the services we offer will make the acquisition of real-estate a tangible reality for many who otherwise can only dream of it at present."

Mr. Hammad further stated that Bindar Trading and Investment Company is very proud of the achievements made by Darkom, "Although Darkom is a new comer to the Jordanian market, it comes with hope for all Jordanians, as it promises to contribute significantly to the growth of the Jordanian real-estate and Investment markets. Furthermore, and by working as a facilitator between the borrower and the lender, Darkom makes the ownership of real-estate an easier task for all members of the community. It also makes the lending of money a less risky procedure for financial institutions. We are glad to be offering our expertise in the financial and investment field and to be working side by side with this pioneering company to change the face of real-estate investment in the Jordanian market of today."