ArabianBusiness.com - Middle East Business News
Saturday, 21 November 2009 09:27 UAE time

YOUR DIRECTORY /

AMLAK Finance PJSC

Main Category: Credit and Finance Company
First Address : PO Box 2441
City : Dubai
Country : United Arab Emirates
Phone: 971 4 3661505
Fax: 971 4 4274501
Email: info@amlakfinance.com
Website: www.amlakfinance.com


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ALL STORIES LIST


UAE cbank - Amlak, Tamweel review to 'take some time'

Fate of merger between troubled cos has been under review for 11 months.

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Amlak posts $36.7m net loss in H1

UAE mortgage lender says losses in first half of 2009 due to fall in revenue, writedowns also weigh.

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Dubai to free 3 ex-Tamweel property execs on bail

Detentions were part of a series of high-level arrests as gov't aims to root out corruption.

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Gulf stocks plagued by opacity, structural problems

Cheap Gulf blue chip stocks are set to stay off-radar for many foreign investors because of various issues.

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Amlak in talks over $3.3bn funding gap - report

Mortgage lender's CEO says in discussions with banks and gov't, expects solution soon.

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Nasser al-Shaikh relieved of all gov’t posts

Media office of HH Sheikh Mohammed confirms dismissals in short statement.

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Islamic lender Amlak posts Q1 loss

Company chairman says it has been 'one of most challenging periods' for mortgage industry.

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Tamweel disputes media report on funding needs

UPDATE 1: Dubai mortgage lender dismisses analysis and conclusion of report.

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Gov't approval for Tamweel, Amlak merger due in weeks

Tamweel chairman says merged firm may look to markets for extra funding later in year.

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Profits slip at Amlak Finance

Full year numbers impacted by Q4 loss after home loans market went into retreat.

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UAE lenders expect to see rising mortgage defaults

Amlak Finance chief says deliquencies on mortgages are growing.   

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Good debt, bad debt

A radio advert for mortgages caught my ear on the drive to work, the fact there was any advert at all was surprising.

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Property will 'move again' as top lenders resume business

News Amlak and Tamweel will resume lending in 'weeks' is welcomed by industry.

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Amlak, Tamweel to resume lending 'in weeks' - official

Dubai-based mortgage lenders to resume business as separate entities before merger.

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Amlak-Tamweel merger 'not definite' - finance chief

Minister of economy says merger still one of many options being considered.

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Crunch time

Many analysts predicted a loosening of credit restrictions in the first quarter of 2009 but that relief has yet to come.

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Amlak-Tamweel merger evaluation 'complete by Feb'

Early 2009 deadline set for final assessment on state of Dubai mortgage companies.

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UAE's Real Estate Bank and Industrial Bank to merge

UPDATE 1: Banks to combine as Amlak, Tamweel merge under Real Estate Bank.

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Amlak, Tamweel to merge under gov't bank

UPDATE 3: Dubai-based Islamic mortgage lenders to merge under Real Estate Bank.

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Lenders ramp up interest rates on home loans

Banks in the UAE increase mortgage rates by as much as 2.5% as cost of borrowing rises.

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Amlak suspends new mortgage loans

Dubai-based Islamic lender says move is temporary, may also need to access retail deposits.

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New mortgage, registration laws could boost end-user confidence

The introduction of mortgage laws and interim registration will provide greater regulation to protect buyers and curb market speculation, says Lynette Brown, legal consultant at Al-Tamimi.

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Amlak-Tamweel merger 'complete by end of Q1 2009'

Two firms' chief executives say they expect to move rapidly on $1.6bn merger.

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Gulf exchanges rise as global credit fears ease

UPDATE 5: Emaar Properties shares boost Dubai benchmark ahead of anticipated buyback plan.

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Amlak, Tamweel merger talks progress

Dubai Islamic mortgage lenders say they have begun consultation with key stakeholders.

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Amlak raises outlook as Q3 profit doubles

UPDATE 1: Amlak chairman says expects profit to surge by a "minimum of 100 percent" this year.

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Amlak denies merger due to funding difficulties

Dubai mortgage lender says proposed merger with Tamweel will drive growth plans.

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Amlak, Tamweel in merger talks

UPDATE 2: Leading Islamic mortgage lenders have begun 'exploratory discussions' over merger.

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UAE's mortgage lending jumps 55%

Central banks reveals total home loans worth total of $17bn but slowdown in growth starts to show.

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Dubai's Amlak says Jordan unit raises capital

Mortgage lender says capital for Amman-based operation is $89mn.

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Amlak profit skyrockets

UPDATE 1: Dubai Islamic mortgage firm sees second quarter net income increase 74% to $38.7mn.

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Amlak, Mazaya salvage Skygardens deal

UPDATE 1: Amlak agrees to buy 80% of tower after dispute threatened deal.

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Amlak applies for banking licence

Islamic home finance provider Amlak has reapplied for a banking licence to the UAE Central Bank.

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Amlak seeking damages as property deal falls through

Dubai Islamic mortgage lender seeking $22.3mn from First Dubai over Sky Gardens.

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Tamweel and Amlak's income soars as Fed cuts kick in

Islamic home finance companies Amlak Finance and Tamweel reported bumper net income in the first-quarter of 2008 as they tapped cheaper funds.

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Banks hoard Fed cuts

Regional mortgage lenders are refusing to pass falling US interest rates on to customers in the emirates.

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Amlak's advance

Amlak was the first mortgage company to benefit from the boom triggered by foreign ownership rights.

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Amlak boosts profit growth outlook

WEFME: Islamic mortgage firm lifts 2008 forecast to at least 80%, from 70% previously - chairman.

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Amlak reapplies for banking licence

Islamic home finance provider lodges papers with UAE Central Bank.

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Amlak renews request for bank licence

Dubai-based Islamic mortgage company in fresh attempt to become a bank.

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Tamweel profit surges on UAE lending

Dubai-based Islamic mortgage company posts second-biggest quarter ever.

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Amlak to sell Islamic bonds worth $1.3bn

Dubai-based mortgage lender to sell bonds this year to help finance expansion, chief executive says.

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Amlak launches low-start home finance

Profit-only home loans to allow lower-income households to get onto UAE property ladder.

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Unlocking new markets

Amlak has reinvented itself to cope with competition and expand into other countries.

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Talking point

In this month's Talking Point we ask mortgage brokers Peter Lee, general manager of Independent Finance and independent mortgage broker Chris Allen to tell us what expats are looking for in the UAE property market.

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Amlak to redevelop Dubai suburb

Mortgage firm to build mixed-use development in Al-Warqa, brings real estate investment to $1.3bn.

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Amlak posts record profit

Eight-fold rise in Q4 earnings to $35mn helps largest UAE mortgage lender beat full-year target.

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Amlak to sell stake in its Egyptian unit

Dubai-based mortgage lender in talks to sell stake to World Bank's International Finance Corporation.

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UAE-based home finance provider discussing tie-up with World Bank lender

Amlak, a specialised home finance provider in the UAE, announced on Wednesday that is in discussions with a division of the World Bank to partner in its Egypt operation, Amlak Finance and Real Estate Investment.

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Amlak, Barwa team up to tap Qatar property boom

Companies to launch mortgage finance firm Amlak Barwa Finance in Gulf Arab state.

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What’s the catch?

Last month Amlak offered customers the chance to refinance their home at a profit rate of 6.95%. Property broker Michael Topham gives his verdict on the deal.

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Amlak implements FinnOne for retail

Shariah compliant mortgage provider Amlak is to deploy FinnOne retail products from Nucleus Software, allowing it to provide greater efficiency to all of its clients.

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Amlak names Cedar for growth plans

Islamic mortgage provider appoints management consultant to draw up, implement growth strategy.

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Amlak invests $700mn in Dubai business park

UAE Islamic lender says it will sell mortgages on offices to supplement home-loan business.

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Amlak posted second biggest profit ever

Dubai Islamic mortgage firm sees net income surge 98% on higher lending and reduced borrowing costs.

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Amlak agrees mortgages for Dubai projects

Islamic lender to cover up to 90% of value of units in two Cayan developments.

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Amlak share buyback approved

Dubai-based Islamic mortgage lender to buy back 5% of its shares, which are down 40% this year.

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Hitting the headlines

New Escrow law aims to sustain Dubai's property boom, take financial risk out of buying off-plan property.

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Amlak trust account services launched

Amlak Finance has received approval to launch trust account services from the Dubai Land Department, signalling the beginning of Amlak's service expansion to major real estate developers.

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Amlak considers share buyback

The Islamic mortgage lender says it is to discuss a proposal to buy back some of its own shares.

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Amlak to sell $260mn sukuk

Dubai mortgage firm will sell asset-backed Islamic bonds to finance Jordan, Morocco expansion.

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Dubai firms to take trust deposits

Mortgage firms Amlak and Tamweel say move will improve investor confidence in construction sector.

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Global market mayhem

Arabian Business talks to financial specialists to see where the markets are heading.

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Amlak warns of credit crisis impact

Crisis could cause costs in upcoming securitisations in region to rise, UAE Islamic mortgage lender says.

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Leading the way

Amlak's new CEO on why he's ready for the challenges facing the Islamic home finance firm.

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Amlak buys stake in Egypt mortgage firm

The UAE mortgage provider to buy founding stake in government-backed mortgage finance company.

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Dubai's Amlak sees record revenues

Investment gains and property sales drove the mortgage lender's Q2 revenues to almost double.

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Sporting chance

What Mohammed Al Hashimi did after he failed to get his hands on one of the world's most famous football teams.

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Record Q2 profits for Amlak

UAE lender beats analyst forecasts with doubled revenue and net profit growth of 88%.

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Amlak to sell $250m sukuk by fall

The Dubai-based mortgage provider plans to sell the Islamic bonds by September to fund expansion plans.

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Amlak gets $218m loan from EIB

The UAE Islamic mortgage provider has signed the loan with Emirates Islamic Bank.

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Amlak signs $218mn loan

Mortgage provider signs a one-year wakala facility with Emirates Islamic Bank.

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Zabeel is mystery Liverpool FC bidder

Zabeel Investments was part of the Dubai-led consortium that failed to buy Liverpool FC.

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Amlak banking licence unlikely in '07

Bank consolidation needs mean that Amlak is not expected to receive a licence until 'deep into 2008'.

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Amlak lays out expansion plans

Amlak Finance steps up Morocco expansion plans with a delegation to the country.

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A new dawn

Banks are rapidly expanding their Islamic banking portfolios as sharia-compliance gains worldwide recognition.

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Dubai's Amlak to launch in Saudi

But there's still no news on the status of the mortgage provider's UAE banking licence request.

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Amlak considers Morocco expansion

Lender meets with Morocco's central bank and finance ministry.

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Zabeel buys Emaar stake

Dubai-based investment firm buys 10% stake in Emaar Industries from Amlak.

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What now for Amlak?

Rivalry and resignations have forced Amlak Finance to make some tough decisions.

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Amlak hopeful after profit plunge

Mortgage provider expects profit to grow despite declining profits and board resignations.

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Emaar to enveil new tower

The first of two Boulevard Plaza towers in the Burj Dubai district is set to launch this Sunday.

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Gulf market report - 9 May 2007

Dubai closes above 4,000 points; Amlak surges as Tamweel profits encourage investors.

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Amlak expects profits boost

The Islamic mortgage provider predicts profits will grow after UAE developer deals.

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Amlak CEO Al-Hashimi resigns

HSBC's Alharmi to take the helm as Al-Hashimi steps down to focus on Zabeel role.

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Amlak’s offer of luxury living

The Islamic finance company launches finance offers for buyers of Sorouh’s Abu Dhabi developments.

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Amlak still hopeful for banking license

The Islamic mortgage provider says its application is still being considered.

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Dubai's Amlak profit down on delays

Delays in property projects have restricted the Islamic mortgage provider's revenue growth.

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Gulf market report - 9 April 2007

The DFM's winning streak was cut short today as the market closed at a loss.

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Tamweel to sell $1.1bn sukuk

The sale of Islamic bonds will fund the mortgage lender's expansion plans.

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The moneymakers

James Bennett meets the young Arab entrepreneurs leading the way in the fast-paced world of high finance.

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Amlak eyes Islamic bond sale

The UAE lender is looking to raise funds after its request for a banking licence was rejected.

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Madaares set to buy UK schools operator

The Dubai-based US$136m company is in "advanced talks" to acquire a leading schools operator.

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Amlak launches first Egypt office

Amlak, the largest publicly listed Islamic finance company in the UAE, has launched an office in Cairo

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Amlak Finance

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Amlak launches Bayti home finance package

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Onwards and upwards

Rather than slowing down, Dubai’s developers are continuing to dream up new projects, meaning more and more opportunities for investors. Hashim Al Dabal, CEO of Dubai Properties, reveals his multi-billion dollar plan to take one of Dubai’s largest developers forward

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READER COMMENTS

  1. Somali pirates free UAE-owned cargo ship 02
    21 Nov ' 09 at 07:58
    In the old days pirate ships were blown out of the water as soon as spotted.Now they have to wait until they attack a ship and then...   More  »
  2. UAE announces Eid and National Day holidays 01
    20 Nov ' 09 at 15:56
    Eid and National Day are two great occassions and very close to each other. It would be a great act for the UAE authorities to extend...   More  »
  3. Where have all the optimists gone? 01
    20 Nov ' 09 at 16:54
    Dubai unfortunate is not more in fashion, the bubble was big , the growing went fast and the down turn even faster.Many of my clients...   More  »

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