Al Qudra Real Estate collaborates with Al Hilal Bank to offer financing at Cityscape Abu Dhabi 2009

This agreement will provide investors with a one month promotion on mortgage solutions for property purchased in Ain Al Fayda, which is being showcased at Cityscape Abu Dhabi 2009.

This agreement is a continuation of AQRE's strategic aim in adapting its services to current market conditions, with the focus on end-user initiatives by providing them with easy access to financing.

Al Hilal Bank will offer Sharia compliant home financing solutions with financing of up to 90% of the total value, with a financing tenor of up to 25 years at a rate of EIBOR + 4% (Min 9%). EIBOR is the interest rate charged by banks in the UAE for interbank transactions. In most cases, EIBOR is the reference rate most commonly used by borrowers and lenders to conduct financial transactions in Abu Dhabii and the other Emirates. This offer is valid for 1 month only, effective from Sunday 19 April, 2009, the first day of Cityscape, for UAE nationals seeking to invest in Ain Al Fayda.

Mahmood Al Mahmood, CEO of Al Qudra Holding, said:

"Our collaboration with Al Hilal Bank is a demonstration of our commitment in providing our clients with an even higher level of service and placing the widest possible choice at their disposal. This is an essential component of our business strategy in reaching out to our investors."

"Al Hilal Bank is keen to develop strong relationships with pioneering developers which support the Nation's economic growth plans. Al Qudra Real Estate is among the leading developers in the area, and we have faith in their commitment to continue with their significant achievements. There is no doubt that this relationship will enable further development of real estate finance operations and positively support community growth as well as the interests of customers," said Mohamed Zaqout, EVP and Head of Personal Banking, Al Hilal Bank.

Al Hilal Bank representatives will be present at Al Qudra Real Estate's stand (number: 2E10) at Cityscape Abu Dhabi from the 19th - 22nd April 2009.