Latest news with #ADIB
Trade Arabia
5 days ago
- Business
- Trade Arabia
Binghatti, ADIB bring sharia-compliant home finance solutions to UAE
Dubai's leading developer Binghatti Holding has signed an agreement with Abu Dhabi Islamic Bank (ADIB), a leading financial institution in the UAE, to broaden and deepen its customer base by offering customers sharia-compliant home-financing solutions including off-plan property purchases. The MoU allows the two parties to detail an agreement that will make it easier for homeowners to secure home financing solutions once construction of a project reaches 35% completion. Binghatti currently has 18,600 units under development across 23 projects in prime residential areas across the city, including Downtown, Business Bay, Jumeirah Village Circle, Al Jaddaf, Dubai Science Park, Dubai Production City and Sports City. Binghatti had launched its latest 1,600-unit project, Binghatti Aquarise, in early May at a star-studded event at the Coca-Cola Arena with nearly 12,000 people in attendance. Commenting on the deal, CEO Eng. Katranalda BinGhatti said: "This innovative Islamic financing solution is a game changer for our industry and will continue to support the growth of off-plan sales and the sustainability of the real estate market." "We expect to be able to offer our growing customer base a lower threshold to access financing across our projects under development in Dubai and a way to benefit from market appreciation. We have a strong relationship with ADIB over many years and are delighted to be working together to support the evolution of home financing," he stated. ADIB Group CEO Mohamed Abdelbary said: "We continue to play a pivotal role in expanding access to home financing in the UAE, empowering more individuals and families to take their first step into being property owners."
Al Bawaba
5 days ago
- Business
- Al Bawaba
Binghatti and ADIB to bring Sharia-compliant Home Finance solutions to the UAE real estate market
Dubai's leading developer, Binghatti Holding Ltd. ('Binghatti), announced today that it has signed a Memorandum of Understanding ('MoU') with Abu Dhabi Islamic Bank ('ADIB'), a leading financial institution in the UAE, to broaden and deepen Binghatti's customer base by offering customers Sharia-compliant home-financing solutions, including off-plan property MoU allows the two parties to detail an agreement that will make it easier for homeowners to secure home financing solutions once construction of a project reaches 35% on the MoU, Engr. Katranalda BinGhatti, Chief Executive Officer, Binghatti, said: 'This innovative Islamic financing solution is a game changer for our industry and will continue to support the growth of off-plan sales and the sustainability of the real estate market. We expect to be able to offer our growing customer base a lower threshold to access financing across our projects under development in Dubai and a way to benefit from market appreciation. We have a strong relationship with ADIB over many years and are delighted to be working together to support the evolution of home financing.'Commenting on the MoU, Mohamed Abdelbary, Group Chief Executive Officer at ADIB, said: 'ADIB continues to play a pivotal role in expanding access to home financing in the UAE, empowering more individuals and families to take their first step into being property owners. This partnership with Binghatti reflects our shared vision of enabling homeownership by providing innovative Sharia-compliant solutions. Together, we aim to deepen the real estate financing market in the UAE by unlocking greater affordability and financial inclusion.'Binghatti currently has 18,600 units under development across 23 projects in prime residential areas across the City, including Downtown, Business Bay, Jumeirah Village Circle, Al Jaddaf, Dubai Science Park, Dubai Production City and Sports City. Binghatti was proud to launch its latest 1,600-unit project, Binghatti Aquarise, in early May at a star-studded event at the Coca-Cola Arena with nearly 12,000 people in attendance. Binghatti has a strong record of on-time unit delivery supported by its in-house vertically integrated business model, comprising design, build and materials sourcing. In 2024, Binghatti saw sales of AED 11.6 billion, a 161% year-on-year increase, driven by 16 successful project launches and the timely delivery of 3,700 units. Collaborations with renowned global luxury brands like Mercedes-Benz, Bugatti, and Jacob & Co., as well as prestigious clientele including football star Neymar Junior and renowned musician Andrea Bocelli, further elevated the company's market position. Binghatti's recent strategic acquisition of over 13 million sqft of prime land, with a development value exceeding AED 26 billion, underscores its ambitious future growth plans.
Arabian Business
5 days ago
- Business
- Arabian Business
Binghatti, ADIB sign massive deal for Sharia-compliant home financing in Dubai
Dubai developer Binghatti Holding Ltd has signed a Memorandum of Understanding with Abu Dhabi Islamic Bank (ADIB) to provide customers with Sharia-compliant home financing solutions for off-plan property purchases. The agreement will enable homeowners to secure financing once construction reaches 35 per cent completion across Binghatti's development projects. 'This innovative Islamic financing solution is a game changer for our industry and will continue to support the growth of off-plan sales and the sustainability of the real estate market. We expect to be able to offer our growing customer base a lower threshold to access financing across our projects under development in Dubai and a way to benefit from market appreciation. We have a strong relationship with ADIB over many years and are delighted to be working together to support the evolution of home financing,' Engr. Katranalda BinGhatti, Chief Executive Officer, Binghatti said. ADIB and Binghatti partnership Binghatti currently has 18,600 units under development across 23 projects in residential areas across Dubai, including Downtown, Business Bay, Jumeirah Village Circle, Al Jaddaf, Dubai Science Park, Dubai Production City and Sports City. The developer launched its 1,600-unit project, Binghatti Aquarise, in early May at an event at the Coca-Cola Arena with nearly 12,000 people in attendance. Binghatti operates an in-house business model comprising design, build and materials sourcing. 'ADIB continues to play a pivotal role in expanding access to home financing in the UAE, empowering more individuals and families to take their first step into being property owners. This partnership with Binghatti reflects our shared vision of enabling homeownership by providing innovative Sharia-compliant solutions. Together, we aim to deepen the real estate financing market in the UAE by unlocking greater affordability and financial inclusion,' Mohamed Abdelbary, Group Chief Executive Officer at ADIB added. In 2024, the company recorded sales of AED 11.6 billion, representing a 161 per cent year-on-year increase, driven by 16 project launches and the delivery of 3,700 units.
Zawya
5 days ago
- Business
- Zawya
Binghatti and ADIB to bring Sharia-compliant home finance solutions to the UAE real estate market
Dubai, UAE – Dubai's leading developer, Binghatti Holding Ltd. ('Binghatti), announced today that it has signed a Memorandum of Understanding ('MoU') with Abu Dhabi Islamic Bank ('ADIB'), a leading financial institution in the UAE, to broaden and deepen Binghatti's customer base by offering customers Sharia-compliant home-financing solutions, including off-plan property purchases. The MoU allows the two parties to detail an agreement that will make it easier for homeowners to secure home financing solutions once construction of a project reaches 35% completion. Commenting on the MoU, Engr. Katranalda BinGhatti, Chief Executive Officer, Binghatti, said: 'This innovative Islamic financing solution is a game changer for our industry and will continue to support the growth of off-plan sales and the sustainability of the real estate market. We expect to be able to offer our growing customer base a lower threshold to access financing across our projects under development in Dubai and a way to benefit from market appreciation. We have a strong relationship with ADIB over many years and are delighted to be working together to support the evolution of home financing.' Commenting on the MoU, Mohamed Abdelbary, Group Chief Executive Officer at ADIB, said: 'ADIB continues to play a pivotal role in expanding access to home financing in the UAE, empowering more individuals and families to take their first step into being property owners. This partnership with Binghatti reflects our shared vision of enabling homeownership by providing innovative Sharia-compliant solutions. Together, we aim to deepen the real estate financing market in the UAE by unlocking greater affordability and financial inclusion.' Binghatti currently has 18,600 units under development across 23 projects in prime residential areas across the City, including Downtown, Business Bay, Jumeirah Village Circle, Al Jaddaf, Dubai Science Park, Dubai Production City and Sports City. Binghatti was proud to launch its latest 1,600-unit project, Binghatti Aquarise, in early May at a star-studded event at the Coca-Cola Arena with nearly 12,000 people in attendance. Binghatti has a strong record of on-time unit delivery supported by its in-house vertically integrated business model, comprising design, build and materials sourcing. In 2024, Binghatti saw sales of AED 11.6 billion, a 161% year-on-year increase, driven by 16 successful project launches and the timely delivery of 3,700 units. Collaborations with renowned global luxury brands like Mercedes-Benz, Bugatti, and Jacob & Co., as well as prestigious clientele including football star Neymar Junior and renowned musician Andrea Bocelli, further elevated the company's market position. Binghatti's recent strategic acquisition of over 13 million sqft of prime land, with a development value exceeding AED 26 billion, underscores its ambitious future growth plans. For more information, please contact: Mahmoud Kassem Brunswick mkassem@ Lamia Khaled Hariz Head of Public Affairs ADIB Simon Hailes Director of Financial Communications Edelman About Binghatti Holding Ltd.: Binghatti Holding Ltd. is a renowned Emirati brand in the real estate development sector, holding a leading position with a portfolio exceeding 80 projects valued at over AED45 billion. Binghatti Holding is led by Chairman Muhammad BinGhatti, whose innovative vision aims to deliver luxurious projects that reflect refined artistic taste and high standards in design and quality. Binghatti Holding has successfully delivered over 11,000 residential units in the past 16 months, achieving remarkable milestones in collaboration with global brands such as Bugatti, Mercedes-Benz, and Jacob & Co. Binghatti Holding continues to expand its real estate portfolio to meet the growing market demands, focusing on delivering residential projects that elevate the level of luxury in Dubai. About ADIB: ADIB is a leading bank in the UAE with AED 244 billion in assets. The bank also offers world-class online, mobile and phone banking services, providing clients with seamless digital access to their accounts 24 hours a day. ADIB provides Retail, Corporate, Business, Private Banking and Wealth Management Solutions. The bank was established in 1997 and its shares are traded on the Abu Dhabi Securities Exchange (ADX). ADIB has a strong presence in five strategic markets: Egypt, where it has 72 branches, the United Kingdom, Qatar, and Iraq. Named World's Best Islamic Bank by The Financial Times - The Banker publication, ADIB has a rich track record of innovation, including introducing the award-winning Ghina savings account, award-winning co-branded cards with Emirates airlines, Etihad and Etisalat and a wide range of financing products.
Al Bawaba
25-05-2025
- Business
- Al Bawaba
ADIB Named Middle East's Best Bank for Consumers by Euromoney
Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has been named Middle East's Best Bank for Consumers, by the leading global financial publication Euromoney in its 2025 Awards for Excellence. This prestigious accolade highlights ADIB's dedication to delivering innovative, digital first and customer- centric bank built around the evolving needs of individual customers. In addition to being named Middle East's Best Bank for Consumers, ADIB also secured three other prestigious accolades at the Euromoney Awards 2025 including UAE's Best Bank for Consumers, UAE's Best Islamic Bank, and UAE's Best Islamic Bank for ESG. These awards recognise ADIB's commitment to sustainability, regional excellence, and innovation within the banking sector. ADIB's continuous efforts to innovate and uphold the highest standards of Sharia-compliant banking practices have been acknowledged through various accolades. Last year, ADIB secured four awards at the Euromoney Awards, underscoring the bank's dedication to excellence in Islamic finance and marking the third consecutive year it has been recognised by Euromoney. Commenting on the achievement, Mohamed Abdel Bary, Group Chief Executive Officer at ADIB, said: "We are honoured to receive these prestigious accolades, which reflect our unwavering commitment to serving our customers with excellence and creating a positive impact on our community and the environment. These recognitions are a testament to the dedication of our team and reinforce ADIB's continued focus on delivering innovative, Sharia-compliant banking solutions grounded in integrity, transparency, and customer-centricity in everything we do'. The annual Euromoney Awards for Excellence programme, renowned in the global banking industry, spotlight institutions that demonstrate exceptional distinction to meeting the evolving needs of their customers. The Euromoney Islamic Finance Awards programme celebrates the Islamic financial institutions that have made an impact in their respective markets and contributed to the development of the Islamic banking and finance market. ADIB's innovation and digital journey has continued to yield strong results, with the bank widely recognized as one of the region's most innovative and forward-looking Islamic financial institutions. As of 2024, ADIB's return on equity remained among the highest in the regional banking sector. More than 80% of the bank's core systems are cloud-enabled, and its API infrastructure supports seamless integration with fintechs and ecosystem partners. ADIB has also invested significantly in upskilling its workforce, with thousands of employees trained in data analytics and digital capabilities. In advancing its sustainability agenda, ADIB has leveraged digital innovation to enhance financial inclusion and social impact, this includes the expansion of its mobile-first banking services. Through initiatives focused on digital onboarding, Sharia-compliant personal finance tools, and accessible wealth management platforms such as fractional sukuk, ADIB continues to empower individuals and corporates with ethical financial solutions. The bank consistently sets industry benchmarks, addresses evolving customer needs, and enhances its services to provide quality banking experiences.
