Tamweel 4th Annual Awards Ceremony recognises support of strategic partners
Dubai - Tamweel PJSC, the UAE's leading provider of real estate finance, awarded its business partners and associates at a ceremony held yesterday (October 31, 2007) at the Jumeirah Beach Hotel. The event was hosted by Sheikh Khaled Bin Zayed Bin Saqr Al Nehayan, Chairman of Tamweel, and attended by dignitaries, property developers, real estate agents, related financial industry officials and media.
Recognising the contribution of its partners, Sheikh Khaled Al Nehayan said: "Our strategic business partners have been integral to the success of Tamweel, helping us become the largest provider of real estate finance and one of the fastest growing brands in the UAE. The awards are a testament to our mutual commitment to redefine the property finance landscape of the UAE and the wider region."
He added: "This year, the theme of our awards is 'Ahead and aiming higher' - truly reflecting Tamweel's vision, achievements and leadership in the market."
Among the partners and affiliates who were honoured at Tamweel Awards Ceremony 2007 were Nakheel L.L.C., Manazel Real Estate, Al Mazaya Holding Company, Al Sondos Group, Rustar Real Estate, Deyaar Development PJSC, Emirates Airline, DP World, Gulf Lenders Network, Dubai Islamic Bank, Hamptons International, ASDA'A Public Relations, Union National Bank, Emirates Islamic Bank, Bonyan International Investment Group, Sama Dubai, Al Tamimi and Co., Dubai Financial Market, Land Department and Salama Islamic Arab Insurance Co.
Tamweel's Chief Executive Officer, Adel Al Shirawi, said: "In just over three years since launch, Tamweel has been recognised as the industry trend-setter, offering innovative financing solutions, valued-added benefits and exceptional customer service. We share this success with our esteemed partners, who are working alongside Tamweel to fuel sustained growth in the region's property market."
He added: "This year marks a special occasion as our partners have enabled us to consolidate our position as the real estate finance provider of choice. We now have the majority market share of 34 per cent in the UAE and over AED 9 billion of assets under management. Our landmark achievement this year was our first Islamic Residential Mortgage Backed Securitisation (RBMS) transaction - the first in the world, which received the highest outstanding ratings assigned from international rating agencies for a securitisation by a UAE-based institution (Aa2 by Moody's and AA by Fitch).
"With our continuous strong performance, we have embarked upon a regional expansion plan, establishing our presence in Saudi Arabia this year. Among other milestones in 2007, Tamweel was the first home finance provider in the UAE to receive a property ownership certificate, or Title Deed, as well as the first real estate financier to be appointed an Escrow account agent by Dubai's Land Department. We have also launched a variety of products addressing both residential and commercial sectors."
Manal Shaheen, Director, Sales Marketing & Customer Service of Nakheel LLC said: "Tamweel is a key player in the region and has taken a pioneering approach to real estate financing. Combing traditional Islamic principles with a modern business outlook, Tamweel has provided the property market with a range of customised solutions; we are pleased to be their long-standing partner in these exciting times of dynamic market growth."
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About Tamweel PJSC
Tamweel, the largest provider of real estate finance in the UAE, was established in March 2004 and became a public joint stock company in June 2006. A provider of a wide range of unparalleled customer-service solutions and innovative home finance products, Tamweel works with 265 partners across country. The company, which aims to become the regional home finance leader, currently has branches in Dubai, Sharjah and Abu Dhabi. For more information, please visit www.tamweel.ae.
For more information, please contact:
Nabil Abou Alwan
Head of Marketing & Product Development
Tamweel PJSC
Dubai, UAE
Tel: +971-4-2944400
Fax: +971-4-2944331
Email: nabil.aboualwan@tamweel.ae
Nicholas Nesson
ASDA'A Public Relations
Exclusive Affiliate of Edelman, Middle East & North Africa
Dubai, UAE
Tel: 971-4 3344550
Fax: 971-4-3356080
Email: n.nesson@asdaa.com
Sudha Hemmad
ASDA'A Public Relations
Exclusive Affiliate of Edelman, Middle East & North Africa
Dubai, UAE
Tel: 971-4 3344550
Fax: 971-4-3356080
Email: sudha.hemmad@asdaa.com
Gunjan Chaurasia
ASDA'A Public Relations
Exclusive Affiliate of Edelman, Middle East & North Africa
Dubai, UAE
Tel: 971-4 3344550
Fax: 971-4-3356080
Email: g.chaurasia@asdaa.com
© Press Release 2007
