Dubai World Central Signs Financing MoU with Dubai Islamic Bank

Click here: Zawya.com – Dubai World Central Signs Financing MoU with Dubai Islamic Bank

Dubai World Central Dubai World Central (DWC) – the mammoth 140 square kilometre urban land development under construction in Jebel Ali – received major investor interest in several of its real estate and property offerings during Cityscape 2007, the largest business-to-business real estate investment and development event in the world.As a result of the demand, DWC signed a MoU with Dubai Islamic Bank (DIB) – the world’s first fully-fledged Islamic bank, at the event to finalise an agreement providing financing to DWC customers. The MoU will cover all real estate sales across the project’s three main components – DWC Residential City, DWC Commercial City and DWC Golf City.

“This visionary project is set to change the way real estate practitioners think,” said Khalid bin Harib, CEO, Real Estate, Dubai World Central. “With offerings that cater to every strata of society, DWC is truly a city-within-a-city which allows every Dubai resident to look at DWC as home.””The MoU with Dubai Islamic Bank will look at all possible financing options within DIB’s Sha’aria compliant regulations,” continued bin Harib.

…DWC is a 140 square kilometre urban aviation community centred around the world’s largest international airport. Currently being built 40 kilometres from the existing Dubai International Airport the project is almost twice the size of Hong Kong Island.DWC creates a new benchmark in urban planning and destination living designed to support Dubai’s aviation, tourism, commercial and logistics requirements until 2050 and represents one of the most important developments in the history of the United Arab Emirates.

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