Dr Khalid Abdulla, CEO of Reef, A.Nasser A.Rahman, Chief Business Officer of Reef, Amin Al Arrayed, Head of Retail and Placement in Reef, Mr. Faisal Sharaf, owner and developer of Marmar Residential Towers, Hassan Al Mushaimea, General Manager of Grnata Group, and Jaffer Sabt, Group Consultant and HR director of Grnata Group were all present at the signing.
The signing between Reef and Manazil was announced only days after Grnata Real Estate were signed on as the exclusive marketing and sales arm for the two towers. Reef - Real Estate Finance company was selected to complete the triad due to its commitment to providing competitive shariah-compliant mortgage financing options.
In this regard, Mr. Sharaf noted, "As an end-user financier, Reef has differentiated itself in the market by being a solution provider. In addition to their competitive finance terms, Reef provides our prospective clients with dedicated advisors to guide them through the financial planning process, providing information and assistance that ensures the final financing option is one that meets our clients' needs."
Dr Khalid Abdulla added, "Reef is pleased to be the financier of choice for Marmar Residential Towers 1 and 2. As a property, the towers are characterized by a superior location and reasonable prices for end-users."
Dr Khalid further commented on Reef's business strategy saying, "The Reef brand and business strategy has been built on the grounds of developing strategic alliances and partnerships that ultimately translate into more options and solutions for clients. Today's signing with Manazil Real Estate extends our commitment to end-user finance to forthcoming clients of Marmar Residential Towers. Each MOU we sign puts our business model into action; bringing clients their property of choice, matching it with a financing option that suits their needs, and completing the cycle by ensuring we are by our clients' side for the rest of the mortgage process through to final ownership."
Standing at 16 stories, Marmar Residential Towers 1 and 2 will result in a total of 104 apartments, each designed with 3 bedrooms, a spacious kitchen, living, and dining area. Further facilities include a gymnasium, roof top swimming pool, sauna, a large entertainment hall and a restaurant. The two residential towers are to be completed within the last quarter of 2007. Further details on the property or financing options are available at Grnata Real Estate or Reef.
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Reef confirms end-user financing for Marmar Residential Towers
- Bahrain: Monday, July 24 - 2006 at 16:18
- PRESS RELEASE
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Reef - Real Estate Finance Company and Manazil Real Estate Company today signed a memorandum of understanding that confirmed end-user financing for clients interested in owning an apartment in Marmar Residential Towers 1 and 2.
At the signing ceremony in Reef offices are (front row, left to right): Mr. Jaffar Sabt, Grnata Group; Mr. Faisal Sharaf, Manazil Real Estate; Dr. Khalid Abdulla, CEO of Reef; Mr. Hassan Al Mushaimea, General Manager of Grnata Group; (back row, left to right):Mr. Amin Al Arrayed, Reef, Head of Retail and Placement; Mr. A. Nasser A. Rahman, Reef, Chief Business Officer.
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Posted by Janeta Novakovic, Assistant News EditorMonday, July 24 - 2006 at 16:18 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
This article was updated on Sun Sep 17 2006.
Notes and Media Contacts »
ABOUT Reef - Real Estate Finance Company:
Reef - Real Estate Finance Company B.S.C was established with a paid up capital of BD 20 million in September 2005 under the regulatory guidelines set by the Bahrain Monetary Agency. Reef operates as a Shariah compliant keystone organization with the primary focus of providing mortgage finance solutions for new and existing property owners. Reef aims to further extend itself into providing a stable platform that groups alliances and partners together for the networking and development of resources that will service the real estate finance market on a local and regional level.
The Reef board of directors includes representatives from a number of reputable individuals and corporations, our promoters, and strategic alliances partners such as Al Khaleej Development Co. BSC, National International Holding Co. KSC, Global Investment House, and Al Namou Al Aqari Limited Co.
For more information, please contact Reef on:
T: +973 17 583 363
F: +973 17 580 434
Reef - Real Estate Finance Company B.S.C was established with a paid up capital of BD 20 million in September 2005 under the regulatory guidelines set by the Bahrain Monetary Agency. Reef operates as a Shariah compliant keystone organization with the primary focus of providing mortgage finance solutions for new and existing property owners. Reef aims to further extend itself into providing a stable platform that groups alliances and partners together for the networking and development of resources that will service the real estate finance market on a local and regional level.
The Reef board of directors includes representatives from a number of reputable individuals and corporations, our promoters, and strategic alliances partners such as Al Khaleej Development Co. BSC, National International Holding Co. KSC, Global Investment House, and Al Namou Al Aqari Limited Co.
For more information, please contact Reef on:
T: +973 17 583 363
F: +973 17 580 434
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