naseba and the Council of Saudi Chambers unveil the nominees for the Awards for the Leaders in Real Estate

"The Awards for the Leaders have been exclusively designed to reward real estate companies, banks and financial institutions for their global excellence in the Islamic real estate industry. It is an honor for us to organize the Awards program as a significant feature of the Real Estate Investment World Summit with the Council of Saudi Chambers of Commerce. The Awards and the Summit aims at exploring the investment opportunities within the conventional and Shari'ah-compliant real estate sector,"

explained Tina Tolani, Project Manager of the Real Estate Investment World Summit.

Out of the 164 received nominations, 35 companies from UAE, Kingdom of Bahrain, Kingdom of Saudi Arabia, Sultanate of Oman, India and Kuwait have been short listed.

The Awards are made in 7 categories, the three most innovative ones being Leading Real Estate Developer, Best Sustainable Project and Best Islamic Real Estate Fund.

Nominees and their project names are listed per category, as followed:

• Leading Real Estate Developer

o Sama Dubai (UAE) nominated for The Lagoons
o Gulf Holding Company (Kingdom of Bahrain) nominated for Villamar, The Harbour, Downtown Al Areen
o The Land Holding (Kingdom of Saudi Arabia) nominated for Ajmakan
o Nakheel (UAE) nominated for Palm Jumeirah
o Investment Dar (Kingdom of Saudi Arabia) nominated for Khabary Future City
o Dar Al-Arkan (Kingdom of Saudi Arabia) nominated for Qasr Khozam (Jeddah), Al Qasr (Riyadh)

• Best Sustainable Project

o Masdar City (UAE)
o The Wave, Muscat (Sultanate of Oman)
o The Lagoons (Sama Dubai, UAE)
o Waterfront (Nakheel, UAE)
o Mohammed Bin Rashid Gardens (UAE)
o Bearys Global Research Triangle (India)

• Best Islamic Real Estate Fund

o Kuwait Finance House (Kuwait) nominated for Baitak Asian Real Estate Fund, Peninsula Shenzhen, Project Pavilion
o Global Investment House (Kuwait) nominated for GCC Real Estate Fund, Global Real Estate Ijarah Fund
o SABB (Kingdom of Saudi Arabia) nominated for HSBC Amanah Global Properties Income Fund
o Al Dar Assets Management Company (Investment Dar) nominated for Al Dar Real Estate Fund

• Leader in Islamic Hospitality

o Tamani Hotels
o Al Mulla Hospitality nominated for Cliftonwood, Adham and Wings
o Landmark Hotels
o Shaza Hotel

• Best Islamic Real Estate Project

o KM Holdings nominated for Tamani Hotels
o Dar Al Istithmar
o Sorouh

• Leading Islamic Financial Institution

o Gulf Holding Company (Kingdom of Bahrain)
o Emirates Islamic Bank (UAE)
o Global Investment House (Kuwait)
o Investment Dar Group (Kingdom of Saudi Arabia)
o Dubai Islamic Bank (UAE)

• Best Islamic Fund Manager

o Global Investment House (Kuwait) nominated for GCC Real Estate Fund and Global Real Estate Ijarah Fund
o SABB (Kingdom of Saudi Arabia) nominated for HSBC Amanah Global Properties Income Fund
o Dubai Islamic Bank (UAE)


The winners will be chosen by impartial independent industry experts, who will mark the scores on the basis of the pre-set criteria and entry form submitted by the nominees. The following criteria will be assessed by the panel of judges: the scale of the project, design, use of materials, use of alternative technologies, sustainability elements, types of funds offered, customer service, financial knowledge, innovation and adherence with the Shari'ah principles.

The Awards ceremony will be hosted by the Council of Saudi Chambers of Commerce & Industry on October 18th, 2008 at 8.20pm at the most luxurious venue in Riyadh, the Four Seasons Hotel at Kingdom Centre.

"On 18th October, we are proud to present a grand opening ceremony for the summit along with awards to recognize and reward excellence in our industry, followed by an extravagant gala dinner. We hope that you will join us at this summit," announced H.E. Saleh bin Ali Al-Turki, Chairman, Council of Saudi Chambers of Commerce & Industry.