Abu Dhabi Finance, launched amid the financial crisis in November 2008, wants to become the best and the biggest residential mortgage lender in the country and promises availability of liquidity in the market for property buyers.
The company, a five-way joint venture between Mubadala, Aldar, Sorouh, Tourism Development and Investment Company (Tdic) and Abu Dhabi Commercial Bank (ADCB), was launched with an initial capital of Dh500 million and with the aim of helping the booming real estate industry of the emirate.
The company, according to its CEO Philip Ward, has no immediate plans to spread its wings beyond Abu Dhabi, which remains the main focus at the moment. However, he did not rule out going into Dubai and other emirates' markets in the near future.
No comments:
Post a Comment