Real Estate Bank and DIB sign strategic agreementc

DUBAI — Real Estate Bank has sealed yesterday a strategic agreement that appoints Dubai Islamic Bank the exclusive provider of Islamic finance solutions to buyers of Real Estate Bank's prime development projects in Liwan City and Dubai Industrial City.

The agreement was signed by Abdul Aziz Abdullah Al Za'abi, General Manager of Real Estate Bank, and Mohamed A Amiri, Senior Vice-President for Retail and Business Banking, Dubai Islamic Bank.

The partnership allows Dubai Islamic Bank to provide up to 95 per cent financing to property buyers of Real Estate Bank's Salam Gardens residential development in Dubai Land's Liwan City and the Al Hayat Complex Residential and Al Hayat Complex Commercial projects located at the heart of Dubai Industrial City.

"Being one of the frontrunners of the government's development initiatives, Real Estate Bank has established key partnerships that help improve our access to a broad range of market segments. With Dubai Islamic Bank's solid reputation in providing a comprehensive line of financing solutions, we are confident that this partnership will help address the finance requirements of our existing clients and potential investors," said Abdul Aziz Abdullah Al Za'abi, General Manager of Real Estate Bank.

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