Property and consumer finance company in the United Arab Emirates (UAE) Amlak Finance has inaugurated a new branch located in the Emaar Business Park in Dubai.
The new branch is now ready to receive customers and act as a full-fledged Amlak office. Products offered by the new branch comprise the full complement of Amlak's offering to its customers.
Established in 2000, Amlak Finance is majority owned by Emaar Properties, retaining a 45 percent stake in the company. Its growth strategy combined an Initial Public Offering (IPO) in January 2004 that was oversubscribed 33 times, increasing its capital to 750 million Emirati dirhams ($204 million) and its conversion into an Islamic financial institution that offers Shari'a compliant products. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
