Wataniya Development Fund is aimed to capitalize on opportunities in Abu Dhabi real estate sector
Abu Dhabi, June 25, 2009: Al Hilal Bank Al Hilal Bank , an Islamic Bank based in Abu Dhabi has announced the launch of Al Wataniya Development Fund in partnership with Abu Dhabi Investment House Abu Dhabi Investment House aimed at tapping the huge potential of Abu Dhabi Real Estate sector. This is a first of a series of investment products to be launched by the bank to capitalize on the opportunities available locally and across the globe.
The objective of the alliance is to leverage their combined experience across a variety of sectors in the identification of unique investment opportunities and is focused on real estate.
The signing ceremony, which was held at al hilal bank's head office in Abu Dhabi, was attended by Senior Officials from both al hilal bank and Abu Dhabi Investment House Abu Dhabi Investment House , represented by Mr. Aladin Al Khatib, Executive Vice President- Treasury & Investment Group from al hilal bank, and Mr. Saud Hassan Al Nusuf, Chief Investment Placement Officer of Abu Dhabi Investment House Abu Dhabi Investment House .
Mr. Al Khatib ing on the fund said, "After extensive research and analysis, Al Hilal Bank Al Hilal Bank 's view on Abu Dhabi's Real Estate market are positive. Given the current rental yields and coupled with our ability to source external expertise, we expect the Fund to generate and exceed its promised returns to our customers. We welcome joining hands with a reputable firm such as ADIH ADIH , and we believe the Fund highlights our ability to provide the best to our customers".
Mr. Al Nusuf from ADIH ADIH commented: "Abu Dhabi's Real Estate market is a highly promising one due to the constant guidance and support of the government. Through continued research, we believe there is a huge potential for our investors through this fund. The strategic partnership with Al Hilal bank will combine extensive expertise from both firms to achieve higher than expectations results. "
Launched in June 2008, Al-Hilal Bank prides itself in taking a progressive approach to providing its customers with accessible Shariah-compliant banking solutions. It has been a major player in a number of strategic partnerships since its launch.
About Abu Dhabi Investment House Abu Dhabi Investment House Abu Dhabi Investment House ( ADIH ADIH ) was established in 2005 to explore Investment opportunities specially in the field of private equity, corporate finance, real estate, asset management, investment placement, in addition to managing Initial Public Offerings (IPOs), as well as, the management of securities.
About Al Hilal Bank Al Hilal Bank : Al Hilal Bank Al Hilal Bank is wholly owned by the Abu Dhabi Investment Council, which is an investment body of the Government of Abu Dhabi. The Bank has an authorized capital of AED 4 billion and is licensed to operate as an Islamic commercial bank. Al Hilal Bank Al Hilal Bank is committed to becoming the region's leading financial institution, escalating the development of Islamic Banking with a fresh approach to the industry, new technology and service excellence. Al Hilal Bank Al Hilal Bank has eight branches across UAE
For more information: Mariam Yousef Ahli Public Relations Manager Email: firstname.lastname@example.org Mob: 050 744 77 55
© Press Release 2009 omar 1.1:zy