95% financing available exclusively from Tamweel

Luxury units at Dubai Marina ready for delivery next month

Two, three and four-bedroom apartments, as well as duplexes and penthouses, available exclusively through Tamweel

Units priced from AED 1.6 million to AED 4.3 million

Dubai, November 19, 2006: Tamweel PJSC, the UAE's leading provider of home finance, together with Al Sondos Holding is offering up to 95% financing on the purchase of luxury apartments at Marina Mansions, a new development in the heart of Dubai Marina. This unique offer provides excellent value for investors and homeowners alike, who will be able to take possession of their units next month.

Prices at this luxury development start at an extremely competitive AED 1.6 million for a two-bedroom apartment (1,959 square feet). Three-bedroom apartments (2,594 square feet) are priced from AED 2 million to AED 2.5 million, while four-bedroom apartments (3,057 square feet) are priced at AED 2.9 million.

For the ultimate in upscale living, 3-bedroom duplex apartments (2,540 square feet) are priced at AED 2.4 million, and 4-bedroom penthouse units (4,370 square feet) are priced AED 4.3 million.

Potential buyers are invited to the Tamweel Sales Centre at the Grosvenor House from November 25-27 between 9AM to 6PM where they can view and book the property of their choice. Tamweel, as the exclusive finance provider for Marina Mansions, will offer on-the-spot finance approval without any real estate or transfer fees.

Marina Mansions, as the name implies, offers vast living spaces in the heart of one of the most sought-after areas of Dubai, close to the coast and just minutes from Dubai Internet City, Dubai Media City, Mall of the Emirates and other key developments.

"We are extremely proud to offer such an attractive promotion at this prime Dubai Marina location," said Adel Al Shirawi, Chief Executive Officer of Tamweel. "This offer, valid for a limited period, proves yet again our commitment to both affordability and excellence."

He added: "Marina Mansions will set a new benchmark for waterfront luxury. We are confident that, with up to 95% financing, we can provide home ownership solutions to those who aspire to such new heights in contemporary living."

Marina Mansions has been built to the very highest standard by Al Sondos Property Developers LLC, providing the ultimate combination of living space and quality finish. Each unit offers marble and granite flooring throughout, Italian ceramic tile terraces and European fixtures and accessories. World-class amenities include leisure facilities such as a fully-equipped panoramic gymnasium, health club, temperature-controlled swimming pool and Jacuzzi, tennis, basketball and squash courts.

Eng. Mohamed Yaqoob Alhashemi, Managing Director of Al Sondos Holding, said: "In today's fast-paced society, space and tranquility have become two of the ultimate luxuries. This is exactly what Marina Mansions, located in the heart of Dubai Marina, offers. Each of these state-of-the art units has been designed to maximise living space, and each has been built to the very highest standards. Indeed, Marina Mansions is more than an address; it's a whole new lifestyle."

KEY HIGHLIGHTS OF THE TAMWEEL OFFERING

  • Up to 95% financing

  • On-the-spot finance approval

  • Delivery starting December 2006

  • A variety of choices, including 2, 3 and 4-bedroom units, duplexes and penthouses

  • Price range from AED 1.6 million to AED 4.3 million

-Ends-

About Tamweel PJSC:
Tamweel, the leader in home 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 235 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.

About Al Sondos Holding:
Al Sondos Holding is operating in local and international market since 1985. Today, Al Sondos Holding, a AED 2 billion company, concentrates its resources in 8 business sectors, including real estate, property development, facility management, hotels, hospitality industry, sales & marketing services, engineering and consumer products.

For further information, please contact:
Marlene Salloum,
Tamweel PJSC
Dubai, UAE
Tel: +971-4-2026469
Fax: +971-4-2944331

Nicholas Nesson/Bakul Gala
ASDA'A Public Relations
Exclusive Affiliate of Edelman,
Middle East & North Africa                        
Dubai,
UAE
Tel: 971-50-4785324 / 50-2459547
Fax: 971-4-3356080
E-mail: n.nesson@asdaa.com /b.gala@asdaa.com

For further information, please contact:
Ravshan Iskhakov
Al Sondos Holding
Dubai, U.A.E.
Tel: +971-4-3434888
Fax: +971-4-3430842
Email: info@alsondosholding.com

© Press Release 2006