(Sukuk.net - Khaleej Times) Dubai Islamic Bank (DIB) has announced that it has arranged Islamic financing totalling Dh266 million for Parkway International Contracting, to finance a portion of the Remraam project coming up in Dubailand.

The total value of the contract for Parkway International is Dh760 million and consists of 24 residential buildings. Dubailand is being developed by M/s Mizin, a member of Tatweer.

Khaled Kamda, Group Managing Director & CEO, Dubai Islamic Bank, said: "Dubai Islamic Bank has been able to make a significant contribution to the contracting sector and has successfully positioned itself as a leading financial institution in the contracting finance business. Dubai Islamic Bank has developed financial solutions that are Shariah-compliant while supporting contractors to turn the most ambitious projects into reality.

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