Abu Dhabi Finance (ADF) signed a three year term-loan agreement for AED 100 million with First Gulf Bank (FGB), one of the leading banks in the UAE.

The loan will be used to finance ADF’s operations and to further enhance the organisation’s services and offerings. The agreement was signed by Andre Sayegh, CEO of FGB, and Ali Eid AlMheiri, Chairman of ADF.

ADF, a private joint stock company, specialises in real estate financial services for individuals and businesses. It offers solutions ranging from residential and commercial mortgages to financial support services.

Commenting on the agreement, Andre Sayegh, CEO of FGB, said: “As a UAE-based bank, we are committed to taking part in initiatives and agreements that aim to benefit the UAE’s economy and its continued development and growth. This agreement with Abu Dhabi Finance will work towards supporting the growth of the UAE’s real estate sector. ”

Ali Eid AlMheiri, Chairman of Abu Dhabi Finance went on to add: “First Gulf Bank is one of the leading banks in the UAE, and has built a strong place for itself in the market. We are pleased to be joining efforts with the bank, and will be using this loan to enhance our operations. Our goal is to provide our clients with the best real estate financial services and to work towards the rational development of the local real estate market.”

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