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ETA Star launches The Summit with upto 80% finance
- June 25, 2006, 9:15 pm
ETA Star, a leading freehold property developer in the UAE has launched its latest project, The Summit, a 38 storeyed commercial and office tower located between Dubai Media City and Dubai Marina on Sheikh Zayed Road.
The one-day workshop organized and hosted by Tamweel at Park Hyatt Dubai, involved some of the leading real estate agencies in the UAE. The luncheon forum discussed issues that impact the UAE real estate industry as well as the burgeoning home mortgage sector.
The deliberations discussed industry trends, including the evolution of new business models as well as factors important for real estate agencies to be successful in the future. It analyzed the demand and supply of quality mortgage finance products and Tamweel’s role in revolutionizing the sector since its inception.
In his comments on the workshop, Mr. Adel Al Shirawi, CEO of Tamweel, said, ‘The forum, another industry first by Tamweel, was a very educative and informative gathering involving the top real estate companies in the country. It provided an a deeper understanding of the sector, its future outlook and how educating and counseling consumers will result in more qualified homebuyers, helping turn prospective buyers into real ones, and assisting consumers enter the first rung of the homeownership ladder.’
He added: ‘During the workshop, we received vital feedback from the real estate agencies, which will play a pivotal role in shaping our future products, promotions and initiatives. We also discussed on the world-class residential projects currently under way in the UAE and growing property market in Abu Dhabi as well as Tamweel’s success and the massive untapped potential for quality finance products. In particular, we discussed the new property law in detail, which allows expatriates from all nationalities the right to acquire freehold in the UAE.’
The workshop witnessed the first gathering of its kind involving top-rated real estate agencies, which helped them analyze the changing nature of competition and the vibrancy of the real estate market which has necessitated innovative but effective ways of reaching target customers.
Mr. Shirawi said: ‘From Tamweel’s point of view, the event was conceived to provide a convenient avenue for us and present an opportunity for networking which includes real estate agents, property lawyers, property developers and consultants. We have got many positives out of the forum and following this, we will be able to offer prospective property buyers more options to assess, compare and decide.’
Tamweel, which is set to be listed on the Dubai Financial Market (DFM) soon, plans to focus on further strengthen its mortgage loan portfolio and bring in a range of new products as its strength lies in its network and product lineup. The Company hopes to further build its market leadership through innovative promotions and the workshop went a long way in positioning it as an aggressive company that promises growth and profitability for the future.
Offering a blend of financial stability and ethics, a fusion of traditional values and a progressive outlook, coupled with an innovative range of home finance products catering to the world-class residential projects currently under way in the UAE, Tamweel’s success reflects the strength of the real estate finance market in the Country and the massive untapped potential for quality finance products.
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