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Tamweel gives investors cause for optimism

Posted on 02 November 2010

From Gulfnews.com: In a significant boost for the local real-estate market, Islamic home finance company Tamweel PJSC has announced that it will resume lending to those wanting to purchase property. Tamweel has said that it will start offering up to 80 per cent financing of the current value of finished residential properties in Dubai and Abu Dhabi.

“Tamweel is back in business,” said Varun Sood, Chief Executive Officer, Home Finance Division. Given the large percentage of the local home-finance market held by Tamweel and its controlling shareholder, Dubai Islamic Bank, the same can perhaps be said for part of the local property market…………………………………….Full Article: Source

 
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Laxman - who has written 19163 posts on Opalesque Islamic Finance Briefing.


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