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Wednesday, December 2 - 2009

Falcon City of Wonders ties up with AMLAK as a strong financial services partner

  • United Arab Emirates: Saturday, November 12 - 2005 at 15:46
  • PRESS RELEASE

Falcon City of Wonders, the novel purpose-built community project being constructed within Dubailand and featuring replicas of famous sites and architectural marvels such as the Pyramids, the Hanging Gardens of Babylon, the Eiffel Tower, the Taj Mahal and the Leaning Tower of Pisa, has announced a strategic partnership with finance provider AMLAK to facilitate purchase and investment.

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  • Mohammed Al Hashimi, Chief Executive Officer, AMLAK, and Salem Al Moosa, Chairman and Chief Executive Officer of Falcon City of Wonders LLC at the signing.
    Mohammed Al Hashimi, Chief Executive Officer, AMLAK, and Salem Al Moosa, Chairman and Chief Executive Officer of Falcon City of Wonders LLC at the signing.
AMLAK Finance PJSC is the largest publicity held Islamic finance company in the country, and a pioneer in Islamic home finance services.

Salem Al Moosa, Chairman and Chief Executive Officer of Falcon City of Wonders LLC, said.
"Our partnership with AMLAK will be instrumental in easing investment and purchase procedures for making Falcon City properties more accessible to a wider range of people across the region."


The Falcon City of Wonders covers an area of 4 million square meters, and is shaped to represent a falcon, which is symbolic of the UAE's heritage. The development is divided into 5 phases, and will combine various commercial, residential, educational and leisure amenities with entertainment facilities, and will include apartments, villas, shopping malls, hotels, restaurants, health clubs and spas, schools and parks, in addition to Pharaohs Theme park. Falcon City of Wonders is designed to be a land of civilizations, tracing the lifestyles and culture of people from different ages and parts of the world.

Mohammed Al Hashimi, Chief Executive Officer, AMLAK said, "Our partnership with Falcon City will expedite the provision of financial services to those looking to own a home in landmark project. AMLAK remains committed to providing premium services that are in keeping with the nation's traditions and norms, and we are proud to be associated with a meritorious project such as Falcon City of Wonders."

The Falcon City project will also feature a 'fun city' inspired by the era of the pharaohs and highlighted by the Pharaohs Theme Park located by the main entrance. Specialist consultants are being invited to discuss the nature of rides and attractions there.

"Falcon City of Wonders is unique in terms of scale and concept. Our vision is to develop the project into a representation of ancient cultures, while providing a blend of the best modern amenities and services. Falcon City will be the epitome of luxurious living, with a comprehensive array of facilities that will offer residents an unmatched lifestyle. Further, the Pharaoh Theme Park being designed at the project will add value to residential life at the community, "Al Moosa concluded.
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Notes and media contacts

About Falcon City of Wonders:
Falcon City of Wonders is a purpose-built community project within Dubailand, featuring structures based on famous sites and the architectural marvels of the world, such as the Pyramids, the hanging Gardens of Babylon, the Eiffel Tower, the Taj Mahal and Leaning Tower of Pisa. Spread over an area of 4 million square meters, it is shaped to represent the falcon, emblematic of the UAE's heritage.

The project will combine various commercial, residential, educational and leisure amenities with entertainment facilities, and will include apartments, villas, shopping malls, hotels, restaurants, health clubs and spas, schools and parks, in addition to a Pharaohs Theme Park. Falcon City of Wonders is designed to be a land of civilizations, tracing the lifestyles and culture of people from different ages and from different parts of the world.

About AMLAK Finance:
Established in October 2000, AMLAK Finance PJSC, now the largest publicly held Islamic finance company in the country, is a pioneer in Islamic Home finance. Its growth strategy combined an Initial offering in January 2004 that was oversubscribed 33 times, increasing its capital to AED750 million and its conversation into an Islamic financial institution that offers Sharia's compliant products. Its net profits (before depositors share) increased 268% to AED 72.088 million for this year's first half, which ended June 20, 2005, against AED 19.603 million for the same period last year. The half year net profit for 2005 was also 24% higher than the full year results recorded for 2004. AMLAK EGM approved doubling its capital to 1.5 billion in July 2005 and is currently traded on the Dubai Financial Market with EMAAR properties holding majority ownership and a 45 percent stake in the company.

For further information:
Falcon City of Wonders
P.O. Box 120660
Tel: +971 4 3355539
Fax: +971 4 3356703
Email: sales@falconcity.com

For more information, please contact:
CommuniGate Middle East
PO Box 65922, Dubai, UAE
Tel: +971 4 3988134
Fax: +971 4 3988137
Website: www.communigateme.com

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