Ajman, United Arab Emirates  Ajman Bank and Al Zorah Development Company a joined venture between Ajman Government and Solidere International have signed a Memorandum of Understanding (MoU) to establish a strategic collaboration aimed at strengthening access to Sharia-compliant property financing across Al Zorah City’s residential developments.

The partnership reflects a shared vision to support sustainable urban growth in the Emirate of Ajman by integrating structured financing solutions into thoughtfully designed residential communities. Through this collaboration, eligible customers will benefit from tailored financing options covering both completed and off-plan properties, in full alignment with the regulatory framework of the Central Bank of the UAE (CBUAE).
 

As Ajman continues to evolve as a destination for high-quality living and long-term investment, Al Zorah City remains at the forefront of the emirate’s real estate transformation. The collaboration further reinforces both institutions’ commitment to enabling responsible homeownership while maintaining disciplined risk management and governance standards.

Mustafa Al Khalfawi, Chief Executive Officer of Ajman Bank, said: "Our collaboration with Al Zorah reflects Ajman Bank’s commitment to supporting the Emirate’s real estate ecosystem through structured, Sharia-compliant financing solutions. By extending financing across ready and off-plan developments, we are enhancing accessibility while maintaining full alignment with regulatory standards and prudent risk frameworks."

"Partnerships of this nature enable us to contribute meaningfully to sustainable growth, strengthen customer confidence, and deliver long-term value within the UAE’s evolving property landscape" added Mustafa.

The agreement underscores a broader ambition to streamline the homeownership journey by aligning financial solutions with master-planned community development. By facilitating financing accessibility at the point of property selection, the collaboration creates a more seamless and transparent pathway from purchase to ownership.

George Saad, Chief Executive Officer of Al Zorah Development Company, commented: “This collaboration strengthens the overall value proposition of Al Zorah’s developments by providing customers with direct access to structured and reliable financing solutions. As demand for integrated, high-quality communities continues to grow, partnerships such as this play an important role in delivering a cohesive and elevated ownership experience”.

The MoU reinforces both organizations’ focus on long-term institutional resilience, customer-centric innovation, and the continued advancement of Ajman’s real estate sector within a robust regulatory environment.

About Ajman Bank

Established in 2007, Ajman Bank PJSC is the first Islamic bank incorporated in the Emirate of Ajman. Headquartered in Ajman, United Arab Emirates, the bank officially commenced operations in 2009 and is listed on the Dubai Financial Market. Ajman Bank is a key pillar in the emirate’s economic development strategy and is strongly supported by the Government of Ajman

Ajman Bank offers a comprehensive range of Shari’ah-compliant banking, financing, and investment services to individuals, businesses, and government entities. Its operations span across Consumer Banking, Corporate Banking, Investment Banking, and Treasury segments.

About Al Zorah Development Company

Al Zoraj Spanning 5.4 million square meters of preserved coastal landscape, Al Zorah City is distinguished by its low-density planning, environmental stewardship, and integrated amenities. Key attractions include a one-million-square-meter protected mangrove reserve offering kayaking, paddleboarding, and birdwatching; the Al Zorah Golf & Yacht Club, featuring an 18-hole championship Nicklaus Design golf course and marina; and the upcoming Beach Club. Residential neighborhoods are seamlessly connected through beaches, pedestrian pathways, leisure hubs, and expansive green open spaces.