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"2008 marks our 50th year in the UAE and this record signing in Ras Al Khaimah reinforces our commitment to the country," said Hassan Jarrar, Head of Client Origination and Coverage, Standard Chartered UAE. "Our services in this real estate sector are set in place to support and provide the highest levels of assistance to real estate developers and purchasers and ensure the interests of everyone are protected."
Standard Chartered is one of the few banks in the UAE to offer both conventional and Islamic Escrow transactions and this agreement falls in line with its vision to provide clients with a range of value-added services including a dedicated mortgage centre located in Emaar Business Park to provide advice on property purchases in the UAE.
Dr. Khater Massaad, CEO, Ras Al Khaimah Investment Authority, added:
"We will use this agreement as the blueprint for developing our Escrow and Land Laws to facilitate development in the emirate of Ras Al Khaimah. Rakia is proud and honoured to be associated with leading developers like Pure Real Estate who bring iconic landmarks into Ras Al Khaimah. Our close association with developers is the basis for a promising and sustainable drive towards a prosperous future. Our vision is to create new approaches to property development through projects that preserve Ras Al Khaimah's culture, heritage and values, showing respect towards the surrounding environment and communities."
"We have always had measures in place to protect both property developers and purchasers and with this signing, we highlight our efforts on an international scale," he concluded.
Posted by Anne-Birte Stensgaard, Senior News Editor
