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Mawarid To Fund Property Buyers In Cayan Developments
2008-03-24

Mawarid To Fund Property Buyers In Cayan Developments

Mawarid Finance has signed a partnership agreement with Cayan, one of the UAE s pioneer real estate development companies, to provide finance for buyers in Cayan projects.


Mawarid CEO Mohammed Al Naiami said: The new agreement is part of our continuous efforts to become the first choice for clients in real estate funding, as well as providing comprehensive financial services to institutions and individuals.


Mawarid is continuously looking to provide the best service to clients and since launching last year we have signed a series of agreements to facilitate property purchase.
Cayan now joins the list of Mawarid s prime real estate partners. Clients buying from Cayan are assured of the best service and specialist expertise in Sharia a-compliant funding. This new agreement is one of several we are working on with a number of companies so as to be able to satisfy their clients funding demands, whether to buy house, car, or whatever their requirements may be.


Cayan s portfolio includes a number of unique projects in Dubai such as Silverene, the company s fifth luxury project in Dubai Marina, La Residencia Del Mar, Dorrabay, The Jewels, and Infinity Tower, a unique tower that twists 90 degrees into the sky and which has received many international awards.


Ahmed Alhatti, Chairman of Cayan said: Our real estate projects in Dubai are characterised by prime location, high quality of materials used, and luxurious fittings and facilities.


To date Cayan has delivered three towers in Dubai Marina with the fourth very close to completion. Signing this agreement with Mawarid will provide our clients with a variety of Islamic finance options that will assist them in buying their dream home.


Mawarid Finance


Mawarid Finance is a new private joint stock company established in Dubai, UAE, towards the end of 2006 with a paid-up capital of one billion dirhams. The company plans to introduce a new vision within the Islamic finance sector to both retail and corporate customers in the region.


Mawarid Finance is the only finance company in the UAE that is completely independent. The company s shares are distributed across 352 shareholders, with companies or organisations owning not more than 5% each of the capital and no individual
shareholder s stake exceeding 2.5%, giving the company the operational freedom to secure a leading position in the Islamic banking market in the UAE.


Mawarid Finance specialises in the competitive development of Sharia a compliant financial services, focusing on rapid growth through outstanding customer service.


Cayan


Cayan is set to become one of the region s leading real estate developers, with a mission to challenge the world of architecture, luxury and exclusivity and create world class developments.


Cayan s landmark project in Dubai is known as the Infinity Tower, the world s first luxury twisting tower with panoramic views of the blue Arabian Sea and the eight wonder of the world (The Palm). In Saudi Arabia, Cayan s latest vision is the exquisite Lamar project, developed at the best address on the Red Sea coastline at Jeddah.


As well as being the first high rise development in Jeddah, the SR two billion Lamar will also be the first to offer residential, commercial and retail space plus a spa - as part of one development, with two stunning residential towers, exclusive shopping mall and high tech offices.

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