| 31 Oct 2008 |
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Tameer teams up with ADCB to provide financing for Abu Dhabi projects
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Leading regional developer Tameer Holding InvestmentTameer Holding Investment
has today announced its strategic partnership with Abu Dhabi Commercial Bank (ADCB)Abu Dhabi Commercial Bank (ADCB) to offer attractive mortgage schemes for purchasers of the Tameer Towers and The Gate Towers projects in Abu Dhabi.Under the terms of agreement, ADCBADCB will provide financing for both residential and commercial properties in both projects, with extremely competitive rates offered, starting from as little as Retail Base Rate (RBR) plus 2.75%.
CEO of Tameer HoldingTameer Holding
, Ghassan Sakhnini, said that TameerTameer's decision to partner with ADCBADCB to provide financing for purchasers of its Abu Dhabi projects is part of the organization's ongoing commitment to providing its clients with the best possible services and products in the full spectrum of property purchase.Deputy Chief Executive Officer of ADCBADCB
, Mr Ala'a Eraiqat, said that purchasers of Tameer projects who apply for financing through ADCBADCB can expect the excellent, personalised service and competitive rates that the bank is known for, in addition to a number of special offers that are part of its agreement with TameerTameer. "As part of our exceptional partnership with TameerTameer, we are pleased to offer an attractive mortgage scheme for customers of its iconic Abu Dhabi projects. ADCBADCB and TameerTameer share the same customer-centric strategy in providing the best service and support", Mr. Eraiqat said.
is known for offering its clients the most competitive rates possible, without ever compromising on quality. This new partnership with ADCBADCB promises to increase the firm's already impressive reputation for going the extra mile for its clients.- Ends -
About TAMEERTAMEER
Dedicated to the meticulous creation of comfortable living spaces and inspirational work environments, TAMEER HoldingTAMEER Holding emerged with an ambitious vision of developing as the most trusted brand name in real estate during a time when the Middle Eastern real estate sector was defining itself. TAMEERTAMEER's commitment to pursuing perfection and its relentless search for innovation, distinguished it as one of the pioneers that set the standards for the market from its inception.
TAMEERTAMEER has experienced rapid exponential growth, increasing from a handful of dedicated individuals in 2005 to a diverse team of several hundred professionals today, simultaneously cultivating its project portfolio to over 30 landmark developments in the UAE, the GCC and the greater MENA region.
TAMEERTAMEER has established itself as one of the dominant forces in the region's real estate scene, having entered a strategic partnership with the Al-Rajhi Investment Group, further enhancing its expertise and leadership in property development.
Selecting the most prestigious and premium locations in Abu Dhabi, Dubai and Northern Emirates, TAMEERTAMEER's landmark developments include the iconic Tameer Towers, at Shams Abu Dhabi on Al Reem Island; The Gate Towers, a joint venture with Sorouh; Princess Tower in Dubai Marina, one of the world's highest residential structures; and the technologically ground-breaking Platinum Towers at Business Bay.
About ADCBADCB:
Abu Dhabi Commercial Bank - ADCBADCB is a diversified full service bank. Other than banking services that span corporate, retail and commercial banking, ADCBADCB provides treasury derivative services, infrastructure finance, private banking, wealth management and property management services.
Our approach is driven by an ability to create value for our customers by leveraging our skills and expertise. Amongst UAE banks, ADCBADCB enjoys one of the largest deposit bases with total assets as at 30/6/2008 of AED 128 billion and net profit for the second quarter of 2008 of AED 655.4 million.
Our strong franchise, supported by a network of 43 branches in the UAE including 2 pay offices, 2 kiosks and total number of 126 ATMs covering most prime locations all over the UAE besides 2 full fledged branches in India is reflected in our recent rating of Aa3, which is the highest awarded to a bank in the Middle East.
The Government of Abu Dhabi, through Abu Dhabi Investment Council holds 65% of the capital while the rest is held by various UAE Institutions and Nationals and foreign investors. ADCBADCB's market capitalization as of 30/06/2008 was AED 24.5 Billion approximately US$6.7Billion. For more information, please visit us on www.adcb.com.
For more information, please contact:
Denise Chamassian
Manager, Public Relations
Marketing Department
TameerTameer Holdings
Tel: +971 4 601 0600
Rola Shalak
Assistant Manager, Public Relations
Marketing Department
TameerTameer Holdings
Tel: +971 4 601 0600
Website: www.tameer.net
Wajih Halawa
Account Manager
SAHARA Communications
Tel: +971 4 329 8996
Fax: +971 4 329 8995
Mobile: +971 50 240 3357
E-mail: wajih@saharagcc.com
© Press Release 2008
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