Amlak, the largest publicly listed Islamic finance company and pioneer in home finance in the UAE, today unveiled a unique finance offer for individuals looking to purchase in the Sky Tower, Tala Tower in Sorouh’s SHAMS Abu Dhabi development as well as Sorouh’s Golf Gardens project in the capital.
Open to UAE residents and non-residents alike, Amlak launched the offer during the UAE’s International Property Week, taking place in Dubai between 3-5th April 2007. The innovative home financing product will ensure peace of mind throughout the construction period, ongoing customer support and flexible schemes once the property is complete.
Sky Tower is destined to be the tallest tower in Abu Dhabi when completed. The 83 floor Sky Tower in Sorouh’s Gate District on Reem Island will offer unrivalled opportunities to own residential property at one of the most prestigious addresses in the UAE’s capital city.
Amlak will also offer 97% finance on Golf Gardens, Sorouh’s luxury villa project at the Abu Dhabi Golf Course and Tala Tower at Marina Square, Reem Island which offers residents a city centre and island lifestyle.
“With the launch of progressive housing schemes and world class developments, Abu Dhabi is skyrocketing to the forefront of the UAE’s real estate market,” commented Khalid Zainal, Director Sales & Marketing, Amlak Finance. “Amlak offers the most innovative collection of Islamic finance products, and with our solid presence in the UAE’s capital city, Amlak is well poised to deliver world class Islamic compliant solutions for individuals and companies looking to enter the Abu Dhabi real estate market.”
Amlak’s Abu Dhabi office opened in May, 2005, and has since served scores of eager home buyers, from across the social and cultural spectrum. Working closely with the government as industry advisors, the management team recognized that a strong presence is critical to the company’s long term plans. Partnerships with developers such as Sorouh, on its projects, offer clear proof of Amlak’s commitment to delivering tailored products to this growing market.
“Amlak is one of the leading Islamic Finance providers in the UAE today, and as such we are delighted they are offering this exclusive deal to prospective owners of Sorouh properties,” commented Masood Al Awar, Sorouh’s Executive Director, Sales and Marketing. “The Sky Tower is undoubtedly the most prestigious address in Abu Dhabi and is set to be a landmark in the capital. The luxury residences – which start from the 41st floor - will offer panoramic views of the ocean and Abu Dhabi’s skyline through floor to ceiling windows. Residents will enjoy a massive 180,000 sq ft sports and leisure centre and an exclusive mall for essential and luxury shopping. The Sky Tower will truly offer a balanced life in one building.
“With these innovative and low impact home financing products, our customers can rest assured that they are in safe hands all round,” added Al Awar.
For More Information: Aimee Peters, Buchanan Middle East, 04 369 8563
About Amlak:
Amlak Finance PJSC (Amlak) was established in November 2000 as a wholly - owned subsidiary of its still major shareholder Emaar Properties PJSC (Emaar). The Company ceased to be wholly- owned in 2003 following a tripling of the capital base. An IPO was held in January 2004 and the Company was listed on the Dubai Financial Market in March 2004. Emaar currently owns 45% of the Company. No other shareholder has a stake of 5% or above. As at end 2004 non-national shareholders held an aggregate 22.8%.
About Sorouh
Sorouh Real Estate is the leading real estate development company in Abu Dhabi.
Sorouh was established on June 26, 2005 with a capital of AED 2.5 billion.. Today it is the largest Abu Dhabi based, real estate developer listed on the Abu Dhabi Securities Market with a market cap close to AED 5.75 billion and is one of the most widely held issues with approximately 65,000 shareholders.
Sorouh's corporate vision is to "bring communities to life in perfect balance". Its real estate projects are master-planned and designed to meet the four core needs of human wellbeing: physical, intellectual, social and spiritual. SOROUH employs in excess of 120 highly qualified professionals operating in the field of master-planning and master-development.
Shams Abu Dhabi, Sorouh’s flagship project is an AED 25 Bn landmark development on Reem island. A complete new city of 75,000, Shams Abu Dhabi will be a self sustaining city of Canals and Parks which integrates world-class master planning practices and extends the lush green of Abu Dhabi’s landscape.
The Gate District on Shams Abu Dhabi is a cluster of 8 towers located at the entrance to Shams, Abu Dhabi. Now architecturally renowned worldwide the AED 11Bn residential, office and retail development is designed as a gateway to the Peninsula from Rim Island. The Gate District also includes the 83 storey Sky Tower which will be a pinnacle of luxury for its residential and commercial occupants as well as Abu Dhabi’s tallest building when completed.
Sorouh is also developing the Golf Gardens overlooking the Abu Dhabi Championship Course, the Abu Dhabi Aviation Authority residential project, Al-Shamkha national housing project, the Tala Tower and Saraya on the Abu Dhabi Corniche. In its first venture outside the UAE Sorouh will also be involved in developing the 7,000,000 m Sq ft Bab Al-Bahr project in Morocco.
