Tamweel listed on Dubai Financial Market

The company has finalized its listing procedures after receiving the requisite licence from the Emirates Securities and Commodities Authority (ESCA). The company's stock, which will begin trading on DFM effective tomorrow with trading symbol TAMWEEL, shall appear on DFM screens, trading systems and publications.

The listing of Tamweel's shares on the premier stock exchange will open up significant opportunities for investors to participate in the growth and expansion of one of the region's leading home finance provider.

Talking about the listing, Sheikh Khaled Al Nehayan, Chairman of Tamweel, said: "It is a proud moment not only for us at Tamweel but also for our partners and people who have stood by us through these last few years. We have always received support and loyalty from our associates which is evident not only from the success of the company but also the success of the IPO. We hope that we grow even more through the continuous support of our partners and patrons."

Also speaking on the occasion of the listing, Mr. Adel Al Shirawi, CEO of Tamweel, said: "Right from our inception, Tamweel has played a pivotal role in revolutionizing the mortgage finance sector in the region. As we continue financing world-class residential projects currently under way in the UAE and growing property market in Abu Dhabi, we are convinced this listing on DFM will provide a vital impetus in broadening our horizon."

Tamweel plans to focus on building its mortgage finance portfolio and bringing in a range of new products as its strength lies in its network and product lineup. The company hopes to further build its market leadership through innovative promotions and the workshop went a long way in positioning it as an aggressive company that promises growth and profitability for the future.

Tamweel PJSC is the first company in the UAE to be converted from an LLC status to a public company. More than 140,000 individuals applied for Tamweel's IPO which was oversubscribed almost 485 times and raised an amount of AED 267 billion.

Offering a blend of financial stability and ethics, a fusion of traditional values and a progressive outlook, coupled with an innovative range of sharia compliant home finance products catering to the world-class residential projects currently under way in the UAE, Tamweel's success reflects the strength of the real estate finance market in the country and the massive untapped potential for quality finance products.

Tamweel is the only company in the UAE that has been offering Islamic home finance products since its inception and plays a vital role in the development of the UAE real estate market and its products and services have wide acceptance among the home buyers in the country. Tamweel, which has offered finance for properties of level one developers, has also assisted many secondary and third tier developers to launch their properties in the market.