DIB opens exhibition in Abu Dhabi for two luxury Egypt apartment developments

Several dignitaries and senior officials attended, including Mr. Abdullah Nasser Bin Howaileel, Board Member of DIB and Mr. Butti Khalifa Bin Darwish, CEO. The exhibition will be open to the public until October 13 at the Sheraton, Abu Dhabi.

Commenting on the DIB initiatives in the financing of new real estate development regionally, Mr. Butti Khalifa Bin Darwish said: "DIB has demonstrated its regional reach by financing the two apartment projects in Egypt and by bringing these exciting investment opportunities to the UAE residents. We are sure that they will prove as successful as our earlier ventures."

Global Real Estate Development Co. (GREDC) is building on its success in the UAE luxury real estate market with the development of the Egyptian schemes. "We are bringing the highest quality real estate to UAE investors. Cairo riverside property is amongst the most desirable and sought-after in the entire region," said Obaid Naser Lootah, GREDC's Managing Director.

A subsidiary of Dubai Islamic Bank, GREDC is targetting the projects, which set new standards in quality of finish and convenience of access in the Middle East's biggest city, at Egyptian and Arab expatriate real estate investors. Freehold properties are available at both complexes, positioned at premier locations in Cairo's fashionable modern district just west of the River Nile.

The first, Golden Island Gardens, in the shadow of Muneib Bridge, will have Nile views and its own private jetty with direct access to the river. It boasts two-bedroom apartments on average 140 square metres in size. The largest is 233 square metres.

Combining ease of access to some of Cairo's leading new shopping facilities, Golden Island Gardens is the choice of the discerning real estate investor.

The second, the 17-storey Gulf Tower, is situated on one of Greater Cairo's biggest intersections, Arab League Square in Mohandeseen, and is conveniently located on the new express road linking the east and west of the city and adjacent to the city's new ring road. It contains three-bedroom apartments, villa and office suites.

"We are committed to ensure that GREDC customers will continue to benefit from the investment opportunities, made available on Islamic financing terms, that exist in markets throughout the region," added Mr. Butti Khalifa Bin Darwish. GREDC recorded its success earlier this year with the near instant sell-out of its apartments at its Al Seef Tower complex in Dubai Marina.