• Home
• News Article

International Expertise in High Demand as Bahrain Mortage Sector Faces Slow Recovery

Saudi based mortgage experts Capitas Group International participates at GCC Mortgage Summit in Bahrain

Manama, 07 June 2010: Capitas Group International (CGI), the Saudi based affiliate of the Islamic Corporation for the Development of the Private Sector ( ICD ), is participating in the GCC Mortgage Summit in Bahrain, with CGI Executive Vice President Nasser Nubani making a presentation and taking part in panel discussions about purchasing power and effective measures to revitalize the real estate market.

CGI's expertise in developing, launching and managing Shari'ah compliant financial services platforms is a major contribution to the Summit. There is high demand for international expertise in the region with the growth of the real estate markets throughout GCC and corresponding need for large scale home financing to the expanding middle market home buyers.

"As the Saudi mortgage sector is set to lead regional growth, the developments witnessed in countries such as Bahrain and Dubai help hold key learnings for effective implementation of a regulatory framework in Saudi Arabia." said Nasser Nubani General Counsel of Capitas Group International." In recent years the real estate markets have been a primary growth sector within the region, which in turn has led to advances in the mortgage industry. Stable mortgage and real estate markets play a key role in underpinning a healthy economy."

Capitas Group International is a Shari'ah compliant firm made up of international finance experts. It has chosen Saudi Arabia as its headquarters in order to provide advisory and management services to public and private sector institutions throughout the OIC.

Most recently CGI has been entrusted with the task of developing, launching, and managing the creation of an SAR 2 billion mortgage financing company in Saudi Arabia, geared to provide financing to small and medium sized developers and middle income homebuyers. The Ministry of Finance through its Public Investment Fund is a main sponsor having committed SAR 400 million to the project.

With the attendance of more than 100 regional and international specialists, the GCC Mortgage Industry Summit provides a platform for industry experts to conduct a healthy debate that will reshape business strategies, business networks, enable best practice sharing, while identifying challenges, as well as enabling one-on-one meetings with potential partners and service providers, and the better planning of financial investments.

-Ends-

About Capitas Group International
Capitas Group International is a joint venture between the Islamic Corporation for the Development of the Private Sector ( ICD ), a member of the Islamic Development Bank Group, and Capitas Group, LLC, a US based Shari'ah compliant holding company.

The two companies are aligned by a common vision of advancing economic policy objectives throughout the OIC by partnering with public and private sector institutions to bring Shari'ah compliant finance solutions to the market. The strategic partnership combines Capitas Group's experience in developing and launching Shari'ah compliant financial services platforms, and ICD 's comprehensive access to Islamic finance markets in its member countries.

Capitas Group International is collaborating with some of the most respectable and stable organizations in the world to develop and launch public and private financial institutions and platforms throughout the MENA region.

Most recently Capitas Group International has been entrusted with the task of developing, launching, and managing the creation of a $533 million financing company in Saudi Arabia geared to provide financing to small and medium sized developers and middle income homebuyers.

For more information please contact:
Saeed Al Amoudi
TRACCS, Jeddah KSA
Tel: +966-2-662-5757
Fax: +966-639-9540
Email: saeed.alamoudi@traccs.net

© Press Release 2010