Salam Bounian signs a finance deal with Qatar Islamic Bank for QR206m

The finance agreement is of high importance due to the fact that it is the first real estate finance agreement to be signed and realized in Qatar since the beginning of the financial crisis at the third quarter of last year.

Mr. Yasser Hamad, General Manager of Salam Bounian, commented:

"The fact is that Salam Bounian has earned the trust of the banking industry and is being perceived as a company of strong market credibility with a solid financial and professional base and further enjoys good business reputation."

Mr. Salah Jaidah, CEO of QIB commenting on the deal declared, "The positive economic growth that has reached nearly 7%-9% during this year and the government's decision to purchase the bank's real estate portfolios were considered encouraging aspects to boost real estate business again to play it's vital role in the development of Qatar and to encourage the growth of national companies that QIB is financing on strategic basis such as Salam Bounian."

Mr. Ahmad Meshari, General Manager of Business Domestic Group, also commented, "QIB approved this deal after careful and thorough due diligence on both the company and the project particulars. Our work with Salam Bounian is very strategic and this is the second finance deal we do with them in a very short period of time."

The Jumana Tower is a residential tower situated at plot 16B overlooking the Porto Arabia marina and includes 28 floors offering 250 luxurious apartments.

Ms. Isabella Ibrahim the Marketing Executive of Salam Bounian stated that, "Salam Bounian Development Co. is established on solid grounds due to its distinguished first-class projects and services that are well-known by all in Qatar and due to its belief in the country's leading vision with respect to sustainable development that will preserve the natural resources for generations to come."

Salam Bounian contributes to this vision through the commitment to its corporate social responsibility that includes different campaigns and green initiatives such as the water campaign addressed to school children in Doha conducted last year and the sponsorship of green energy production at Qatar Int'l School which was marked as the first school in Doha to benefit from green energy by using solar panels and wind hybrids.

Furthermore Salam Bounian adopts choices that help preserve the environment and has included and re-designed many Electro-mechanical systems in its projects to minimize wasted water and energy and to become as eco-friendly as possible.