Bonyan's prestigious Dhs300m Dubai Gate 2 project opens an Escrow account with Emirates Islamic Bank

The account has been opened specifically for Bonyan's Dubai Gate 2 project located in Jumerah Lakes Towers, the project's value is in access of Dhs300m.

The signing ceremony took place at the Bonyan International Investment Offices, in the presence of Engineer Abdullah Atatreh Chairman of the board at Bonyan International Investment Group and Mr. Faisal Aqil, General Manager Retail Banking, Emirates Islamic Bank.

'We are very happy that Bonyan International Investment Group has chosen to partner with us to safeguard its investors' said Mr. Faisal Aqil. 'Both our organizations have played a leading role in the development of the real estate market in the region and this partnership will further enrich the contribution,' he added.

Further elaborating on the account, Mr. Aqil said 'Since the bank has been appointed as an Escrow account bank with the Dubai Land Department, we have opened Escrow accounts with many of the major developers in the market, which is a reflection of our ability to service these accounts.

Eng. Abdullah Atatreh of Bonyan International Investment Group said: 'We are very pleased with the quality of service and support provided by Emirates Islamic Bank towards the opening of the Escrow Account for our project Dubai Gate 2. Applying the new Escrow law gives credit for Dubai's property market and ensures the highest level of protection for property investors, as well as enhances confidence levels in this sector.'

Bonyan International Investment Group started its activities in 2002 and now is considered one of the leading real estate groups in the region. The Group's main activity is the development of real estate projects through ownership, partnership, or as development consultants.

It offers a full suite of integrated and research-based services, leveraging several partnerships and strategic alliances with key regional and international business partners. Services include real estate project development, project management and value engineering, sales and marketing, as well as investment and feasibility.

These services are offered to individual, corporate and institutional clients and partners. With offices in Dubai, Sharjah, Abu Dhabi, Muscat, Amman, Riyadh, and Beirut the company is taking an integral part in the development of the real-estate market in the region.

Emirates Islamic Bank has a prestigious portfolio of Escrow accounts & Home Finance agreements with major property developers in the country, thus giving its customers the widest possible and most convenient options in home financing as well support to stake holders, investors and developers.