Issue No 281 - 01 Sep 2008
Hydra Properties, NIB ink financing deal

Hydra Properties has signed a mortgage financing deal with Noor Islamic Bank which covers all its UAE properties including leasehold and freehold units, in ongoing and future developments, a report said.

'The agreement will help all our customers to pursue their investment goals in a relaxed manner, without resorting to uncalled for risks. This joining of hands between two leading institutions will give those who are investing in our developments more options to maximize their gains,' said Dr Sulaiman Al Fahim, CEO of Hydra Properties, as quoted in Gulf News.

'With this development customers can obtain Islamic /Sharia complaint financing for their homes and with the holy month of Ramadan round the corner, there cannot be better news than this major tie-up. This scheme will enable Hydra's investors to make sound and ethical decisions while securing their financial future,' he added.

Source: Trade Arabia News

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