Noor Islamic Bank (NIB), Dubai-based Islamic bank, has announced a financing agreement with ALDAR Properties and Sorouh Real Estate, two of Abu Dhabi'

Noor Islamic Bank (NIB), Dubai-based Islamic bank, has announced a financing agreement with ALDAR Properties and Sorouh Real Estate, two of Abu Dhabi's largest real estate developers to provide up to a maximum of 90% financing for their residential developments. NIB will provide home financing for completed properties as well as for those which are under construction.

Hussain Al Qemzi, Group CEO, Noor Islamic Bank, said, "We aim to offer our customers the best in terms of service and value for money, and are delighted to enter into these agreements to expand our service footprint particularly in Abu Dhabi and generally across the UAE.

NIB has entered into home financing agreements with more than 13 real estate developers across the UAE. The new arrangement with Abu Dhabi developers will offer one of the most attractive home finance arrangements available for properties in the UAE, extending distinctive value added benefits including competitive profit rates and processing fees, as well as a simplified application process.