(Sukuk.net - Khaleej Times) Abu Dhabi National Islamic Finance (ADNIF), the Islamic banking division of National Bank of Abu Dhabi (NBAD), recently arranged a Dh334 million facility for SinoGulf Investments' commercial tower project at Capital Centre.

C.18 is the largest plot within the Capital Centre development designated for commercial and retail use. The project commenced in the first quarter of 2008 and shall be completed in the fourth quaretr of 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.

Moawia El Amin, Head of Corporate and Commercial Division at ADNIF said, "ADNIF 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. SinoGulf's Capital Centre project comes across as a sound business case — it provides the right product at the right time and, most importantly, with the right team."

Andrew Clout, SinoGulf's Managing Director said, "We and our partners, EastGate Capital, are delighted to be associated with one of the most respected financial institutions in the GCC."
` omar1.1 mfn