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Abu Dhabi - Investors in Sharjah's off-plan real estate market can capitalise on attractive Home Finance thanks to a newly signed agreement between, Sharjah Holding and ADCB Islamic Banking.
The agreement will provide customers looking to purchase property in Al Zahia - Sharjah's first integrated mixed-use gated community - an opportunity to avail special Home Finance terms through ADCB Islamic Banking.
Al Zahia is one of the projects of Sharjah Holding which was established through a strategic partnership between the Government of Sharjah and Majid Al Futtaim Properties, equally owned by both parties.
With a contemporary, community lifestyle, Al Zahia development - in the heart of New Sharjah - is a freehold project and spans a total area of 1-million sq metres, offering a range of villas, townhouses, low-rise apartments including studios, and commercial mixed-use buildings. In addition to communal areas and retail facilities, Al Zahia is designed to meet the needs of the entire family with areas for recreation, worship and childcare.
On this occasion, Amr Al Menhali, Executive Vice President and Head of ADCB Islamic Banking, said: "We are delighted to have partnered with Sharjah Holding for the pioneering Al Zahia development. The strategic partnership will allow us to extend our Shari'ah compliant financial solutions to customers who desire to own their own home in Sharjah's first gated community. This tie-up brings together ADCB Islamic Banking's innovative product suite and service excellence with a world class development from Sharjah Holding. We look forward to working together to provide our valued clients with best-in-class products and services."
Bader Al Hareb, Chief Property Officer at Majid Al Futtaim Properties Communities Business Unit, said: "Al Zahia heralds a new age for residential living in Sharjah. It embodies the emirate's traditional values of family, community and culture.
"Through this symbiotic relationship with ADCB, Al Zahia is able to offer more than just bricks and mortar to prospective homeowners. It is a perfect fit that presents potential likeminded homebuyers a financial lending concept that meets their personal and lifestyle needs."
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About ADCB
ADCB was formed in 1985 and as at 31 December 2014 employed over 4,000 people from 65 nationalities, serving over 580,000 retail customers and approximately 49,000 corporate and SME clients in 50 branches, 4 pay offices and 2 branches in India, 1 branch in Jersey and a representative office in London. As at 31 December 2014, ADCB's total assets were AED 204 bn.
ADCB is a full-service commercial bank which offers a wide range of products and services such as retail banking, wealth management, private banking, corporate banking, commercial banking, cash management, investment banking, corporate finance, foreign exchange, interest rate and currency derivatives and Islamic products, project finance and property management services.
ADCB is owned 59.3% by the Government of Abu Dhabi (Abu Dhabi Investment Council - 58.08% and an Abu Dhabi Government Entity - 1.19%). Its shares are traded on the Abu Dhabi Securities Exchange. As at 31 December 2014, excluding treasury shares, ADCB's market capitalisation was AED 37 bn.
About Al Zahia
Al Zahia - owned by Sharjah Holding and managed by Majid Al Futtaim Properties - is a milestone development that will help diversify the real estate sector of the Emirate of Sharjah. As Sharjah's first integrated mixed use gated community embedded in the emirate's values of family, community and culture, Al Zahia is on par with the high-quality, international building standards for which its developer, Majid Al Futtaim Properties, has become known.
www.alzahia.com
www.twitter.com/AlZahiaHomes
www.facebook.com/AlZahiaCommunity
About Sharjah Holding JSC
Sharjah Holding, a strategic partnership between the Government of Sharjah and Majid Al Futtaim Properties, is a community focused real estate developer. Sharjah Holding's current focus is on the development and management of retail and mixed use projects in the Emirate of Sharjah. These include Matajer, a neighbourhood shopping centre concept, and Al Zahia a major integrated mixed-use community.
For further information:
Phillip Vosloo
Associate Director
Impact Porter Novelli
Mob: +971 50 284 4570
Tel: + 971 4 330 4030 Ext 412
Email: p.vosloo@ipn.ae
Web: www.porternovelli.com
© Press Release 2015
