Amlak Finance PSJC receive approval from Dubai Land Department for Trust Account services
In a signing ceremony held Sunday at the Dubai Land Department headquarters, Director General of the Government of Dubai Land Department, Sultan Butti Bin Mejren, and CEO of Amlak Finance, Arif Alharmi finalized the launch of its Trust Account services.
Amlak Finance PJSC, the largest publicly listed Islamic Home Finance Company offering Sharia’a solutions, and a pioneer of home finance in the UAE, received approval to launch Trust Account services from the Dubai Land Department, which signals the commencement of Amlak’s service offering expansion to major real estate developers.
The Government of Dubai has taken major steps to regulate the Real Estate industry and to protect the interests of all stake-holders. The recent establishment of the Real Estate Regulatory Authority and issuance of Law no. 8 of the Trust Account services are two recent examples of the government’s initiative. These advances will protect all participants in the real estate sector, from the property developer, to the financial institution, to the end user and the investor.
Director General of the Government of Dubai Land Department, Sultan Butti Bin Mejren commented, “The Dubai Land Department is taking significant strides to promote regulations that will contribute to the development of the Real Estate market in the emirate. We are very pleased with the agreement between Dubai Land Department and Amlak Finance, as it ensures the ultimate protection of all end users and institutions.”
Amlak Finance stands as the most complete regional home finance company and will continue to lead the market thanks to a multi-faceted service offering. In addition to offering trust account services, Amlak will also augment financial flexibility to the end user, offer unit sales services, after sales monitoring and customer service follow up, legal documentation, and construction finance for major developers. These are a glimpse of the many services that Amlak Finance will offer through its trust account. Also to be carried out by Amlak’s Real Estate projects department, its in-house engineering team, is the monitoring and progress evaluation of its clients’ approved projects, ensuring the delivery of a top quality product.
“The agreement underlines Amlak’s dedication to contribute to, and grow alongside UAE’s booming Real Estate Industry, and Dubai’s vision to boost investor confidence and transparency in particular. The account expands our capacities to offer crucial service offerings, and we are proud to be in this position; strengthening and gaining momentum,” said Arif Alharmi, CEO of Amlak Finance.
Amlak Finance’s development has been lauded since its establishment. Due in part to its status in the region as market leader, as well as being the first player in the home finance sector in the UAE, Amlak Finance already has established strong long-term relationships with a myriad of major real estate developers in the region.
“At Amlak, we are confident that our offerings through the trust account services will become a success to all parties involved. Offering turnkey solutions to real estate developers creates hassle-free dealings, efficiency, and thoroughness in the property development process, from the actual development to end-user customer service,” concluded Alharmi, CEO of Amlak Finance.
As an ideal home finance provider, Amlak Finance is able to ameliorate its service offerings; extending complete service solutions to Real Estate Developers.