Abu Dhabi National
Islamic Finance (ADNIF), the Islamic banking division of National Bank of Abu Dhabi (NBAD), recently arranged an AED334 million facility for SinoGulf Investmentsâ commercial tower project in Capital Centre.
C.18 is the largest plot within the Capital Centre development designated for commercial and retail use. The project commenced in Q1-2008 and shall be completed in Q4-2010. Positioned as a Grade A product with 4 levels of basement parking, 2 levels of podium parking and 12 lifts for a 25 storey building, the tower is designed to cater to international and local blue-chip companies.
Mr. Moawia El Amin, Head of Corporate & Commercial Division at ADNIF comments: âADNIF has grown significantly over the past 18 months under the NBAD umbrella. We strive to get the best quality assets under our portfolio and we screen our proposals by thorough due diligence. SinoGulfâs Capital Centre project comes across as a sound
business case â it provides the right product at the right time and, most importantly, with the right team.â
Mr. Andrew Clout, SinoGulfâs Managing Director said: âWe and our partners, EastGate Capital, are delighted to be associated with one of the most respected financial institutions in the GCC. The ADNIF team asked the right questions while inspecting our proposal and we were delighted to find out that our conservative approach was in line with ADNIFâs risk management strategy. We are confident of taking this relationship across our other business units and find new areas of collaboration within our
private equity business.â
*For more information, please visit www.adnif.ae and www.sinogulf.com
*Source: ME NewsWire
*View this release online and download high resolution images and logos at:
http://www.me-newswire.com/content/view/463/lang,en/
For more information please contact:
Wael Qahoush, ADNIF
Tel: +971 2 410 4503
Shreyas Phadnis, SinoGulf Investments
Tel: +971 2 495 5000
About SinoGulf
SinoGulf Real Estate Investments LLC known as SinoGulf Investments was established in Abu Dhabi in 2003 to develop real estate opportunities and assets for investors from the Gulf region. SinoGulf is also a large investor within the Sharjah Investment Centre and the Abu Dhabi Business Hub. It has a number of subsidiaries and associates including SinoGulf (DIFC) Limited, an Asset Management subsidiary that is licensed by the DFSA.
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