Following the International Bank of Qatar’s (IBQ) successful entry into the real estate earlier this month, IBQ last week signed a Memorandum of Understanding (MoU) with First Qatar – one of the major real estate developers in Qatar.
Committed to offering the best products and services to its customers, IBQ has teamed up with First Qatar Real Estate Development Co, one of the top players in Qatar real estate market. The signing of the MOU took place last week at the Qatar International Exhibition Centre, where the Second Qatar International Real Estate and Investment Exhibition was taking place.
The MoU was signed by Muhannad Kamal, Deputy General Manager of IBQ and Pierre Moerland, Vice President of Sales and Marketing at First Qatar
“With IBQ’s successful entry into the real estate market in place, it is important for IBQ to start partnering with some of the major developers. With this agreement, customers interested in purchasing units in First Qatar’s properties located on the prestigious The Pearl, can start benefiting from our mortgage offering right away”, said Muhannad W. Kamal, Deputy General Manager of IBQ.
In this vibrantly booming economy, the significance of owning a home is increasingly popular as properties are considered a prime investment in Qatar. IBQ’s mortgage offerings with its flexible terms and conditions will undoubtedly help customers fulfil their aspirations of owning their dream home.
IBQ’s mortgage loans provide Qataris the freedom to buy properties throughout Qatar, and residents to buy in pre-approved developments, flexible terms that allow loan periods of up to 30 years. The bank’s flexible terms also allow customers the convenience of variable repayment terms, up to 90% finance and no repayments until each customer’s property is completed.
First Qatar is one of the prominent developers in The Pearl and owner of the First Tower in Porto Arabia.
Commenting on this agreement, Pierre Moerland, Vice President Sales and Marketing at First Qatar said, “We are pleased to be teaming up with IBQ who is capable of translating our commitment to bring excellent value to our world-class clients. First Qatar has been partnering with the industry’s top professionals to ensure that high international standards are met in every aspect of property development from conception to delivery and after-sales services.”
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