Real Estate Bank signs partnership agreement with NBAD

Real Estate Bank, the government-owned entity specialised in facilitating real estate credit for establishments and government organisations in the UAE, has signed a partnership agreement with National Bank of Abu Dhabi (NBAD) to provide financing options for Al Maha Tower in Abu Dhabi.

The agreement was signed by Abdul Aziz Abdullah Al Za'abi, General Manager of Real Estate Bank, and Saif Ali Munakhas Al Shehhi, Senior General Manager of Domestic Banking Department, NBAD.

Under the terms of the agreement, NBAD will provide up to 90 percent financing to investors and property buyers of the Al Maha Tower residential development located at the Marina Square on Abu Dhabi's prestigious Reem Island.

'Real Estate Bank has actively pursued its strategic objectives, which include providing high-quality real estate properties across the country in support of the UAE Government's strategy of achieving sustainable development and economic growth. Our collaboration with NBAD contributes significantly to the success of our initiatives as it allows us to provide flexible financing terms to a wider range of buyer and investor profiles,' said Abdul Aziz Abdullah Al Za'abi, General Manager of Real Estate Bank. (WAM)