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Tue 10 Aug 2010 10:47 AM

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ADF seals mortgage lender deal with Tamouh

Abu Dhabi Finance to be preferred lender when Tamouh starts selling projects to end users.

ADF seals mortgage lender deal with Tamouh
NEW DEAL: ADF will become a preferred mortgage lender when Tamouh starts selling its real estate developments to end users.

Abu Dhabi Finance (ADF) has announced a partnership with master developer Tamouh Investments, to become the preferred mortgage lender for Tamouh projects in the UAE capital.

Under the agreement, ADF will become a preferred mortgage lender when Tamouh starts selling its real estate developments to end users, the lender said in a statement.

A member of the Royal Group, Tamouh is the primary developer for a number of projects in Abu Dhabi, including Marina Square, slated for delivery this year. Tamouh is also developing the City of Lights and Abu Dhabi Downtown on Reem Island, while future projects include developments in Abu Dhabi and Al Ain.

"We are always looking for ways to add value to our investors and end buyers,” Joe Ong, MD of Tamouh, said in a statement. “Working with ADF to facilitate our end users' payment schemes is one of the measures we recently undertook as part of our efforts to continuously assist our customers.

“We are confident that this partnership will further strengthen the relation between key market players in Abu Dhabi and benefit the real estate sector."

Ali Eid Al Mehairi, chairman of ADF, said that the company was committed to contributing to the ambitions of Plan Abu Dhabi 2030.

“Our partnership with Tamouh further expands our reach in the Abu Dhabi property market, and we are delighted to be offering prospective home buyers in the UAE the opportunity to invest in some of the finest properties in the capital at the most competitive interest rates,” he added.

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