Dubai – Mubasher: Dubai Land Department (DLD) on Tuesday announced that it has signed a memorandum of understanding (MoU) with Abu Dhabi Islamic Bank (ADIB).
The deal focuses on banking solutions for transaction services of the ‘Tarweej’ real estate promotion initiative, according to a joint statement.
The agreement was signed by Sultan Butti bin Mejren, director general of DLD and Philip King, global head of retail banking at ADIB, in the presence of Majida Ali Rashid, CEO of the Real Estate Promotion and Investment Management Sector at DLD.
“ADIB is one of the most prestigious financial institutions in the UAE. It has a strong customer base and the ability to provide advanced solutions, which comply with the Islamic Sharia, that are sought by a growing number of real estate customers inside and outside the UAE,” Bin Mejren commented.
He added that the MoU will promote Dubai’s real estate and attract a wide range of customers.
“The MoU reflects an important aspect of our endeavours, especially those related to providing a world-class environment that attracts investment while supporting the strategic directives of the Government of Dubai to encourage real estate investment,” Bin Mejren added.
It is worth noting that ‘Tarweej’ initiative launched by DLD to promote Dubai's real estate market and its projects under the DLD umbrella by establishing a community of real estate developers inside and outside Dubai.
