Tamweel attracts wide response at Acres Middle East 2007

Tamweel also witnessed great response from leading property developers and real estate firms who are committed to developing Sharjah into a business hub and real estate centre.

Adel Al Shirawi, Chief Executive Officer of Tamweel, said the continued success of the company was driven by its in-depth expertise of the real estate market and pioneering approach to business, as well as its diverse product and service portfolio and 300-partner network.

'We believe that performance determines leadership. With an impressive range of innovative products and services, strong financial success and longstanding industry partnerships, Tamweel has become the market leader in a short span of time. We are happy to showcase our achievements at Acres Middle East and welcome potential buyers to benefit from our wide-range of innovative products and exciting offers,'

said Al Shirawi.

Products showcased at the exhibition included Yusr, the first-ever Sharia-compliant Adjustable Repayment Mortgage (ARM) option, which enables customers to start with lower instalments for a selected period in the initial years of their financing. Soyoula, another innovative home refinancing product, allows customers to convert the equity of their home into liquidity, providing them with the cash to finance their investments.

UAE and GCC Nationals are eligible for Baiti, an attractive product, which allows them to receive financing of up to Dhs7m to buy or build their own home.

Tamweel also offers commercial financing to assist businesses in purchasing office blocks, retail space, land or staff accommodation, enabling them to utilise working capital more efficiently.

Tamweel's service offerings include the Pre-approval Finance Facility, which enables customers to get financing approved even before they actually choose a home, while the Flexi Ijara offers easy instalments for ready property at a flexible profit rate.

Al-Shirawi added that as the first real estate financier to be appointed an official escrow agent, Tamweel is committed to raising awareness in the industry about escrow structure. Recently, the company hosted over 50 real estate developers at an escrow account management workshop in association with the Real Estate Regulatory Agency (RERA), a government entity operating under the umbrella of the Dubai Land Department.