Tamweel showcases its innovative products and services at Cityscape

As part of its participation, Tamweel's CEO Adel Al Shirawi also made a presentation titled 'Sharia-based Mortgages' at the high-profile conference and exhibition, which was held at the Dubai International Exhibition Centre over the last three days.

In his presentation, Mr. Shirawi outlined the various facets on how the home finance market has grown over the last three years with the maximum upsurge recorded in the Islamic mortgage products.

Highlighting this growth, Mr. Shirawi said: "Consumers are becoming more and more aware of home finance concepts. In 2003, only 30 per cent of customers were familiar with Islamic finance. Since then, this figure has nearly tripled to 82 per cent as on date."

He went on to stress the unique value of Islamic mortgages and advised on the key elements that consumers should be looking for. Mr. Al Shirawi added: "Nearly 70 to 80 per cent of the total mortgage buyers are non-Muslims. Tamweel managed to attract a significant share of this market through its personalized, Sharia'a compliant products and services that are designed to appeal to all customer, Muslims or not. Our growth over the period of time can be gauged from the fact that we now have 120 partners, 45 of which are developers and 75 real estate agents. These partnerships offer our customers a wider and more convenient range of property options"

Talking about Tamweel's involvement in Cityscape, Mr. Shirawi said: "We are happy to be associated with the premier property investment and development event. At the event, we took stock of the consumer interest in our innovative products and services and I am confident that our participation in the event will further develop our enviable growth. In fact we have already landed 9 deals with partners."

He added that Tamweel was today one of the earliest and leading dedicated mortgage providers in the UAE. "At Tamweel, we have adopted a strategy that differentiates us from the competition through quality service and product innovation, which has helped us become the most admired home-finance provider in the region".

In keeping with its commitment to provide revolutionary products and customer-friendly services, Tamweel recently launched Yusr -- the first ever Sharia-compliant Adjustable Repayment Mortgage finance in the world - that allows customers to make lower monthly repayments in the initial years and amortize the difference over the remaining years of the repayment period.

Tamweel continues to provide a range of mortgage products that realize the homeowners' dreams through personalized financial solutions designed to add convenience and value to their lifestyle.

Cityscape is the region's only integrated property investment and development event attracting the world's most significant investors, lenders, owners and developers together with world-class architects and designers.