Cooperation between “Damac” and “Abu Dhabi Islamic” to facilitate real estate ownership of residents

Damac Real Estate Company announced its conclusion of a cooperation agreement with the Abu Dhabi Islamic Bank, to provide housing solutions to all its customers for projects under construction, which reached the completion rate of 35%.

Amira Sawani said: “Our cooperation with the Islamic Bank of Abu Dhabi, to conclude the aforementioned agreement, reflects our deep commitment to providing financing solutions to facilitate home ownership of a wider segment of residents in the country. We are proud to be the first real estate developer to allow this service in the Emirates, and to establish new criteria regarding financial flexibility in real estate investment in the country.

For his part, the head of the real estate financing department at Abu Dhabi Islamic Bank, Elie Hayek, said: “Abu Dhabi Islamic Bank is committed to creating effective solutions in the field of housing financing, to enable investors to achieve the maximum possible benefit, and contribute to the growth of the real estate sector in the UAE.”