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Ajman BankMeydan Sobha Enter into a Strategic Alliance  Join our daily free Newsletter

MENAFN Press - 24/12/2013

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Ajman Bank
(MENAFN Press) Ajman Bank, the award-winning Islamic financial services institution, has entered into a strategic agreement with Meydan Sobha Group to provide its customers financing for villas located in Mohammed Bin Rashid City - District One. The tie-up reflects Ajman Bank's commitment to ensure that its customers' needs are met optimally and is in line with its objective to offer superior home financing solutions while supporting prestigious developments in the buoyant real estate market.

In a joint statement outlining details of the agreement between the two companies, Ajman Bank EVP - Head of Retail Banking, Mr. Salem Al Shamsi stated: "We are pleased to partner in this landmark development with Meydan Sobha. Our aim is to support our customers by providing them with unique and simple home finance packages as well as the growing real estate sector by strategically identifying the market's needs. This is evident from our very attractive and highly flexible Shariah compliant home finance solutions being offered for this project with up to AED 10MN finance and profit rates as low as 4.49% per annum".

Meydan Sobha CFO Mr. Manish Sharma, said, "This tie-up is a reflection of the trust that leading banks like Ajman Bank and investors have bestowed in Meydan Sobha's development. We are pleased to partner with Ajman Bank and look forward to further growing this association in the near future."

Mohammed Bin Rashid City - District One is a bespoke freehold community of villas set among a backdrop of parks and crystal lagoons in the heart of Dubai and is positioned to appeal to a wide range of discerning homeowners.

About Ajman Bank
Ajman bank provides a wide range of value-driven banking services in the UAE for individuals, business and government clients, all in compliance with Shariah principles. Ajman Bank seeks out the market's best products and technology in order to deliver what customers want, how they want it, delivering real value and recreating that human touch lost in modern banking.Headquartered in Ajman and strongly supported by its government, Ajman Bank is the keystone of the emirate's economic development strategy and is in a position to benefit from its growth and potential like no other. Ajman Bank is committed to becoming a sustainable organization in its truest sense, balancing care for the community and employees with the business of delivering value to its shareholders and customers.About Meydan Sobha Meydan Sobha LLC is an equally-split joint venture, responsible for developing over 47 million square feet of prime freehold land in the heart of Dubai. The first landmark project to be announced within Mohammed Bin Rashid City, it is aptly named District One. This expansive development will feature luxury residences, green parklands, waterways, a high end shopping and dining pavilion and large recreational spaces creating without question one of the lowest density developments in the heart of any international city.


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