DUBAI, March 22, 2006 (WAM) - Falconcity of Wonders, the falcon shapedtourist and recreational city designed to resemble the national emblemof the UAE and formed after the wonders of the ancient and modern world,has tied up with Emirates Islamic Bank to finance properties developedwithin the project.
The contract signed between Salem Almoosa, Chairman and CEO, Falconcityof Wonders and Faisal Aqil, General Manager of Retail Banking, EmiratesIslamic Bank, is a strategic alliance which will be effective in empoweringinvestments required for the project, according to reports in the UAE'sdailies.
Emirates Islamic Bank offers a range of Shari'a compliant products andservices conforming to principles of Islamic banking.
Salem Almoosa, Chairman and CEO, Falconcity of Wonders said: "Falconcityof Wonders is an exceptional project with its unparalleled size. Our intentionis to satisfy the needs and requirements of investors and end users. Thisalliance with Emirates Islamic Bank, the premier Islamic Banking Servicein the UAE, is assured to provide effective and innovative financial solutionsfor the investors and buyers of the project." Falconcity, a part of Dubailand,features replicas of the wonders of the world such as the Pyramids, theHanging Gardens of Babylon, the Eiffel Tower, the Taj Mahal and the LeaningTower of Pisa.
The massive project seats superb architectural combination of the pastand the future.
Faisal Aqil, General Manager, Retail Banking, Emirates Islamic Bank said:"In addition to our portfolio of agreements with the region's leadingproperty developers such as Emaar, Tameer and Nakheel, comes our latestMOU with Falconcity of Wonders."
