Sunday, November 09, 2008

Awali Real Estate signs deal to offer funding solutions to Awali City investors

Awali Real Estate Investments, the renowned real estate investment company, revealed that it has been holding discussions with the American Trust about offering funding solutions to buyers and investors for Awali City plots and buyers of residential units.

The initial agreement has been signed to fund investors in Awali City, but the details of the agreement are yet to be revealed.

The Board Member and Chief Marketing Officer of Awali Real Estate Investment Company, Mohammed Hussein, said "when the global markets are struggling to find suitable funding solutions for real estate investment projects at all levels, and are having serious trust issued, we continue to seek partnerships that offer best funding solutions for investor sin Awali City, and we are taking the final steps towards offering the best possible funding solutions."

The Managing Director of American Trust in Dubai, Alex Mond, said that the strong financial situation of Awali has helped the Trust in taking this step confidently, and that the Trust would offer best funding solutions for investors in the City in accordance with the nature and investment of the project.

The Awali City is a complete residential city project, with 136 plots for residential and commercial purposes. Towers of 17 to 50 storeys are likely to come up in the locality, housing more than 120,000 people.

The plot dividing process and the road works are complete, and the Awali City investors can begin building their developments directly.

Established by the Awali Group, the Awali Real Estate Investment Company is a Dubai-based firm, founded by the Al Nemer Group, as a part of the companies plans to expand across the region, tapping the real estate sector in GCC.

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