Awali Real Estate Investments presents funding solutions to Awali City investors

Awali Real Estate Investments, one of the most reputable companies in real estate investment, has announced that it has been in discussion with American Trust about providing funding solutions to buyers and investors for Awali City plots, as well as purchasers of residential units.

United Arab Emirates: Saturday, November 08 - 2008 at 14:04
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American Trust has made an initial agreement to fund investors in Awali City, due to the solid financial situation of Awali Real Estate Investments. Details of the agreement will be announced in the future.

Commenting on the subject, Board Member and Chief Marketing Officer of Awali Real Estate Investments, Mr Mohammed Hussein Abdullah Al Nemer, said:

'While global markets are struggling to find suitable funding solutions for real estate and investment projects on all levels, and are having serious trust issues, we continue to look for partnerships that will provide the best funding solutions for investors in Awali City, and we are taking the final steps toward giving the best possible funding solutions.'

Alex Mond, Managing Director of American Trust in Dubai, said, 'Awali Real Estate Investments' financial situation has allowed us to take this step confidently, and we'll be providing the best funding solutions for investors at Awali City, in accordance with the project's nature and investment.'

The Awali City project is a complete residential city, comprising 136 plots for residential and commercial use, with towers reaching a height of 17-50 storeys which will house more than 120,000 people.

Awali Real Estate Investments has finished the plot dividing process, as well as roads works, and Awali City investors can start building their developments directly.

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About Awali Real Estate Investments:

With an ambitious vision based on understanding of the regional needs, Al Nemer Group eyes the leading position in the MENA real estate market, to which end it has launched an aggressive expansion strategy with special focus on forging strategic alliances with the region's leading firms. The Group has founded an independent real estate group that adopts advanced levels of corporate governance practices and the highest of technical standards to ensure excellent work progress and to maintain sustainable development.

Awali Group's transparency and performance have contributed to the establishment of Awali Real Estate Investments; a duly incorporated UAE firm based in Dubai, founded by the KSA based Al Nember Group as part of the mother company's plans to expand across the region, capturing a chunk of the booming real estate market in the region, particularly in the GCC.

Awali made its debut in the UAE real estate market with the mega Awali City project on the Emirates Road in Ajman, which was launched in cooperation with Ajman Government's Property Investment Establishment at the beginning of 2008. The company has a number of plans for expansion within the UAE, in Ajman, Dubai and Abu Dhabi, as well as further afield in KSA and other GCC and Arab countries.

Al Nemer Group, Mother Company to Awali, has more than 40 years' experience in the KSA real estate market and has co-founded a number of real estate companies, such as Jenan Real Estate and Mawten Real Estate. The group has also co-founded a number of companies in the financial and aviation sectors in GCC, such as Arbah Capital, Watan Financial Investment, Awali Financial Supporting Services, Financial, Afaq Aviation, United Holding Company and the Dubai based USOS Real Estate, in alliance with Dubai Islamic Bank, as well as establishing a number of strategic partnerships.

For further information, please contact:

Serine Srouji
SAHARA Communications
Tel: +971 4 3298996
Fax: +971 4 3298995

Posted by Siba Sami Ammari
Saturday, November 08 - 2008 at 14:04 UAE local time (GMT+4)

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