Latest news with #sustainablecommunities
Zawya
2 days ago
- Business
- Zawya
ADIB and Abu Dhabi Housing Authority signs an agreement to expand affordable housing finance for UAE nationals
Strategic Collaboration aims to enhance access to housing finance solutions supported by the Government of Abu Dhabi Abu Dhabi, UAE – Abu Dhabi Islamic Bank PJSC (ADIB), a leading Islamic financial institution in the UAE, has signed an agreement with the Abu Dhabi Housing Authority (ADHA) to provide top-up home financing solutions to UAE nationals. The partnership reflects a joint commitment to expanding affordable top up housing finance and supporting the development of sustainable communities in line with the Abu Dhabi government's broader social objectives. The agreement allows eligible Emirati beneficiaries to apply for a top-up finance on their housing loan issued by the Abu Dhabi Housing Authority, a program supported by the Abu Dhabi Government. Through this agreement, the Abu Dhabi government aims to extend the support by offering top up financing solutions subsidized by 50% of the profit of the finance, enabling beneficiaries to secure homes that better meet their evolving family needs and lifestyle aspirations. The agreement was signed during a ceremony attended by H.E. Hamad Hareb Al Muhairi, Director General of the Abu Dhabi Housing Authority, and Mohamed Abdelbary, Group Chief Executive Officer at ADIB. Under this agreement, citizens who have received loans for purchasing or building a home from the Abu Dhabi Housing Authority, and whose monthly income exceeds AED 30,000, will be eligible to obtain additional financing of up to AED 500,000. The repayment period can extend up to 25 years, in accordance with the regulations of the Central Bank of the United Arab Emirates and in compliance with Islamic Sharia principles. The Government of Abu Dhabi will cover 50% of the profit and Murabaha charges associated with this financing. Commenting on this partnership, H.E. Hamad Hareb Al Muhairi, Director General of the Abu Dhabi Housing Authority, said: ' This agreement with Abu Dhabi Islamic Bank reflects the Abu Dhabi Housing Authority's commitment to providing accessible financing solutions that support citizens' aspirations of owning suitable homes. It also contributes to enhancing family stability and quality of life for Emirati families. At the Authority, we are working to expand collaboration with private sector institutions to enable citizens to access flexible financing options that align with their needs and help realize their aspirations.' Mohamed Abdelbary, Group Chief Executive Officer at ADIB, added: 'This partnership underscores ADIB's commitment to empower UAE nationals on their journey to home ownership. By offering Sharia-compliant top-up housing finance in collaboration with the Abu Dhabi Housing Authority, we are not only meeting the growing demand for flexible financing options but also helping to build future-ready communities. With the support of the Government of Abu Dhabi, this agreement will offer citizens the opportunity to own homes that align with their aspirations and provide a living environment that better suits their needs.' The agreement responds to the increasing demand for tailored housing finance solutions among Emiratis and supports the Abu Dhabi Government's vision of fostering social stability through sustainable housing development. Through ADIB's ethical and Sharia-compliant financial products, beneficiaries will benefit from a simplified application process, competitive rates and a seamless customer experience. About ADIB ADIB is a leading bank in the UAE with AED 260 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. For media information, please visit or contact: ADIB Edelman Lamia Khaled Hariz Simon Hailes Head of Public Affairs Director of Financial Communications
Zawya
26-05-2025
- Business
- Zawya
TBK Developments announces $3.60bln investment across three real estate projects in Egypt
Egypt - TBK Developments, the real estate arm of Tabarak Holding Group, has unveiled three ambitious new projects located in New Cairo, Heliopolis, and along the Cairo–Alexandria Desert Road. This announcement marks a significant expansion in the company's portfolio, which now totals EGP 180bn, following a strategic land acquisition near the new Sphinx International Airport. The new developments underscore TBK Developments' commitment to supporting Egypt's urban expansion goals, emphasizing smart infrastructure, sustainable communities, and modern design principles. The company continues to solidify its position as a key player in Egypt and the broader MENA real estate market. 'These three projects, along with our latest land acquisition, reflect our vision of creating integrated communities that deliver genuine value and meet the evolving needs of a new generation,' said Ali Al Shorbany, Chairperson of Tabarak Holding and TBK Developments. Located in one of Greater Cairo's most dynamic districts, Keystone spans 37,000 sqm and offers a mixed-use environment of commercial, administrative, medical, and hospitality spaces. Developed in partnership with global firms Benoy and EHAF, the EGP 20bn project combines architectural innovation with functional versatility. Positioned at kilometer 47, opposite Sphinx International Airport, this 212,000 sqm development includes 192 villas, 300 residential units, and dedicated commercial and hospitality zones. With a built-up area of 104,000 sqm, the EGP 20bn project is designed to foster a balanced, upscale lifestyle in a strategically vital location. On a 9-feddan plot in Heliopolis, this high-end development features 1,200 luxury residential and serviced apartments, 560 administrative units, and 90 commercial spaces. With a total built-up area of 243,400 sqm and an investment of EGP 12bn, the project aims to redefine urban living in one of Cairo's most historic districts. In addition to these projects, TBK Developments has acquired an 800-feddan land parcel adjacent to Sphinx International Airport, earmarked for large-scale development in collaboration with renowned urban planning firm HHCP. This EGP 136bn investment is set to transform the area into a new benchmark for integrated, sustainable development in the region.
Trade Arabia
19-05-2025
- Business
- Trade Arabia
Diyar Al Muharraq completes Jeewan Community Center construction
Diyar Al Muharraq, Bahrain's largest real estate developer, has announced the completion of construction works on its community centre located in Jeewan. This marks a key step in the company's ongoing commitment to social responsibility and creating well-rounded, sustainable communities. Drawing influence from contemporary Bahraini architecture, the community centre has been constructed with the highest standards in collaboration with Bawab Contracting as the main contractor, HAJ Quantity Surveyors Co as the project manager, Arab Architects as the lead consultant, and DG Jones and Partners as the cost consultant. On the occasion, Eng Ahmed Ali Alammadi, Chief Executive Officer of Diyar Al Muharraq, said: 'As part of our deep-rooted commitment to social responsibility, we aim to develop projects that enhance our residents' quality of life and meet their evolving needs. We are pleased to announce the completion of the Jeewan community center, which will play an essential role in strengthening social ties and encouraging a healthy lifestyle. We also extend our sincere appreciation to our partners, whose dedication and expertise remain instrumental in delivering this project in line with the highest quality standards embedded across all our developments.' The centre was constructed on an area of 3,066 sq m with a built-up area of 380 sq m. The space includes a variety of service and retail facilities, featuring an outdoor children's play area, a multi-purpose outdoor court, and seven retail units ranging from 29 sq m to 77 sq m. These amenities aim to serve both Jeewan residents and its neighboring communities. Diyar Al Muharraq is the kingdom's largest integrated residential city that blends luxury with the core family values of Bahraini society. The development offers a wide range of housing solutions and contemporary lifestyles, complemented by a mix of residential, commercial, recreational, and healthcare facilities that embody the vision of modern, future-ready urban infrastructure. -TradeArabia News Service
