real estate bank unveils ambitious development strategy during cityscape 2007
New corporate identity, real estate projects, and financial services to promote new avenues of economic and social development in UAE
Real Estate Bank, the government-owned entity specialised in facilitating real estate credit for establishments and government organisations in the United Arab Emirates, has today (Wednesday, October 17, 2007), launched an ambitious development strategy during Cityscape Dubai Exhibition 2007, which includes a new corporate identity, an increase in services, new projects and a focus on the development of local skills. The move is in line with the strategic plan of the UAE Government to promote new avenues of economic growth and social development through a selection of real estate financing schemes.
Abdul Aziz Abdullah Al Za’abi, General Manager of Real Estate Bank, said, “The Bank has been at the forefront of the country’s development agenda for many years, by contributing financial assistance, stimulating growth of the UAE real estate sector and promoting new avenues of advancement and prosperity in our country. We are now entering a new era, and we hope to generate a lot of industry interest during our participation at Cityscape this year by promoting our advanced offerings that are directly in line with the current market requirements.”
"As one of the government’s premier vehicles for driving growth, Real Estate Bank is proud to introduce pioneering initiatives that will play a pivotal role in promoting sustainable development, and will contribute to the realisation of the strategic social and economic goals as outlined by our rulers,” Al Za’abi added.
As part of the expansion strategy, Real Estate Bank has launched two new projects during Cityscape 2007, adding to the development of its extensive property portfolio throughout the UAE. The Al Hayat Residential and Commercial Complex, incorporating five landmark buildings within the Dubai Industrial City; and Al Etihad Commercial Tower, encompassing 35 floors of business, retail and leisure opulence at Shams Abu Dhabi on Al Reem Island, will both be showcased during the event.
Also on display will be Real Estate Bank’s other projects, which include Al Maha Tower, a mixed-use project with residential, commercial and hospitality components located at Shams Abu Dhabi on Al Reem Island, which fully sold out in only months after its launch; as well as the Salam Gardens Residential Complex, offering 600 one-and-two bedroom apartments at Liwan City, Dubailand; among others.
Other elements incorporated in the expansion strategy include initiatives in the fields of finance and property development, the development of social programs to serve UAE nationals and the opening of new branches throughout the country in the near future.
The new approach will help to position the Bank at the forefront of the UAE Government Strategy for economic and social development, by providing real estate finance and credit exclusively for establishments and government organizations.
