Abu Dhabi Islamic Bank (ADIB), a top tier Islamic financial institution, is providing a AED 600 million financing facility to Manazel Real Estate to fund the Abu Dhabi-based company’s financial obligations and capital expenditure.

The financing agreement was signed at Manazel Real Estate’s head office by Mr. Mohamed M. Al Qubaisi, Chairman of Manazel Real Estate PJSC and Mr. Arif Usmani, Global Head of Wholesale Banking in ADIB.

Manazel Real Estate PJSC, as a leading real estate developer in Abu Dhabi, highly recognizes and appreciates ADIB’s continuous support to real estate developers in Abu Dhabi along with all other sectors and local businesses, which has significant contribution to the growth and development of Abu Dhabi.

ADIB is playing a leading role in private sector financing in the UAE, supporting the country’s economic diversification strategy and in particular supporting the development of Abu Dhabi’s infrastructure. The bank has grown its UAE-based financing portfolio over the last couple of years and intends to accelerate this portfolio in the coming year by strengthening its relationships with corporate clients from all sectors.

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