Finance solutions for investors and end-users of Amwaj Gateway

The signing was attended by A.Nasser A.Rahman, Chief Business Officer of Reef, Amin Al Arrayed, Head of Retail and Placement, Reef, Qais Al-Maskati board member of Amwaj Gateway Company, and Hassan Al-Mansoor board member of Amwaj Gateway Company.

Announced earlier this year in a collaborative press conference, Amwaj Gateway is located at the entrance of Amwaj Islands and is set to be one of Bahrain's most luxurious gated communities. The project, which was developed by RealCAPITA and Yara Investment Company, spans approximately 360,000 square feet and will be developed to house six 20 story towers that will accommodate approximately 550 different units. The development will house all the facilities and infrastructure required to offer a luxurious lifestyle including condos, apartments, a hotel, restaurants, commercial outlets, town houses, swimming pools, gymnasiums and a private beach.

The signing which took place at RealCAPITA's headquarters marked a mutual commitment from Reef and RealCAPITA to providing investors and end-users with access to the best in real estate opportunity. From his end, Mr. Qais Al-Maskati, board member of Amwaj Gateway Company commented,

"Amwaj Gateway is a distinctive opportunity designed to meet market demands and trends. Our partnership with Reef allows buyers interested in the project to benefit from a complete and competitive financing solution. Reef has set itself apart within the realty financing market with its shariah compliant mortgages, dedicated advisory service, and client service orientation."

A.Nasser A.Rahman, Chief Business Officer of Reef, similarly noted his pleasure regarding the company's association with the Amwaj Gateway project, "Amwaj Gateway is a uniquely designed mixed use facility which we firmly believe will bring a new level of luxury and enhancement to the standards of living expected today. The development boasts a design that gracefully maximizes sea-views whilst maintaining optimal functionality and practicality. Our association with the project aims to bring prospective clientele a highly desired property via a smoothly packaged financing solution."

The foundations for Amwaj Gateway are to be laid by November 2006, and the US$ 183 million project is aimed for completion within 30 months.