Dubai Islamic Bank (DIB)’s subsidiary Global Real Estate Development Company (GREDCO) has sold over 50 percent of the apartments available at Al-Seef Tower within one day of its launch.
“Our key differentiator was DIB's offer of long-term finance programs which finance up to 80 percent of the property value, over 15 years with a competitive profit rate,” said DIB General Manager, Butti Khalifa Bin Darwish.
Rising to 43 storeys, Al-Seef Tower contains penthouse-design luxury, three-bedroom and two-bedroom apartments. All penthouse apartments Al-Seef Tower come with private parking, complete with chauffeur accommodation as well as the use of a health club and children's playgrounds.
Established in 1975, Dubai Islamic Bank is considered to be the first Islamic bank in the world that has implemented the principles of Islam in all its practices. It was founded with active assistance of the United Arab Emirates (UAE) Government, the Central Bank and people of the UAE.
The GREDCO was established in 2002 as a fully owned subsidiary of DIB to cater to the bank's expansion in the real estate sector. The company provides various products and services, such as Murabaha Financing for buying and selling buildings, technical marketing and engineering consultancy. The company also offers integrated services, which include property assessment and mediation. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
