UAE developer and finance firm strike investment property loans deal

photo credit: nosha

A United Arab Emirates developer is on the verge of announcing a deal with a finance firm which could see cheap property investment loans provided to buyers interested in its projects.

Awali Real Estate Investments revealed it has been in talks with American Trust on providing funding for investors.

Awali said it had been on the lookout for cash solutions as liquidity starts to dry up in other real estate markets.

Once confirmed the deal between the two companies will see loans provided to investors interested in the Awali City Project in Ajman.

Mohammed Hussein Abdullah Al Nemer, chief marketing officer of Awali Real Estate Investments, said:

“While global markets are struggling to find suitable funding solutions for real estate and investment projects on all levels, and are having serious trust issues, we continue to look for partnerships that will provide the best funding solutions for investors in Awali City.”

Alex Mond, managing director of American Trust in Dubai, said his firm was confident over the deal thanks to Awali’s financial situation.

Awali Real Estate Investments said it would soon release further details on the deal as it was finalised.

The Awali City scheme is a master plan development featuring 136 residential and commercial plots.

Plot dividing and road building is already complete and when finished the whole development will be able to house more than 120,000 people.

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