iPhone | iPad
Android
Huawei
Senior Visa official lauds progressive steps taken by the UAE
KT APPDOWNLOAD
UAE investors buy most units in Lebanon project
DUBAI - Dubai Islamic Bank (DIB) yesterday announced that more than 70 per cent of its Matal Al Qamar residential project in Lebanon has been sold in just two days, with the majority of the individual properties being bought by investors from the UAE.
Commenting on the sales, Butti Khalifa bin Darwish, CEO, DIB, said: "The enthusiastic response from buyers for our maiden venture in Lebanon has exceeded our expectations. It has also encouraged us to devise further innovative projects, which will enable us to offer exciting investment opportunities for our clients. We would like to thank investors for their continued trust in and support of DIB investments and projects."
Matal Al Qamar, which means 'First Sight of the Moon', comprises freehold residential units, set in a strategic location in the Quernayel Falougha area in Lebanon. The location is just 36km from Beirut and connected to the city by three major highways. The complex offers a luxurious lifestyle with several common facilities including a mini golf course, tennis courts, health club, swimming pool, a pet zoo and park.
To showcase the project, a dedicated sales centre has been set up at the Fairmont Hotel, Dubai. The exhibition is open to investors until today, by which time all the remaining individual properties are expected to be sold.
"The project offering and financial facilities offered by the DIB at competitive profit margins have played a tremendous role in generating investor excitement and we are confident that the era of end to end project management is finally taking root in the Middle East," said Mr. Butti Khalifa bin Darwish.
More news from Business
Under its 'Journey 2030' strategy, it plans to bolster Abu Dhabi's role as a travel hub connecting Asia and Europe
Partnership aims to boost growth of companies operating within Dubai CommerCity and broaden their reach
Prize purse valued at over half a million dollars
Leaders underscored the need to explore new areas of untapped potential
Data highlights Abu Dhabi’s increasing attractiveness as a leading hub for technological innovation and business
Events such as the Dubai Shopping Festival, Pre-Ramadan, and Ramadan Sale impacted consumers spending
First timers should consider entry through an aggressive hybrid equity fund