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Bloom inks deal with Abu Dhabi banks

Abu Dhabi, October 5, 2009

Bloom Properties has signed a financing agreement with three leading banks in Abu Dhabi offering up to 25-year financing solutions on residential properties at its flagship development, Bloom Gardens.

Under the agreement, National Bank of Abu Dhabi (NBAD), Abu Dhabi Commercial Bank (ADCB) and Abu Dhabi Islamic Bank (ADIB) will offer up to 80 per cent financing for interested clients, with as low as 10 per cent of upfront equity prior to bank financing.

Dr. Hani Shammah, CEO of bloom, said: ‘The agreement translates our efforts to provide customized financing solutions to support our clients, and highlights our commitment to offering safe and effective options for those interested in investing in Bloom Gardens."

"Joining efforts with such prominent financial institutions that support the vision of Abu Dhabi and support its economy, comes high on our priorities list," he remarked.

"The bloom brand takes a fresh approach to property development, focusing on developing master-planned, sustainable communities through partnerships with the big players in this field."

"We are extremely proud of the trust these banks put in us and our projects, as this agreement gives our clients the chance to choose the property right for them, helping us to extend the reach of our services in Abu Dhabi, and across the UAE," he added.

Bloom is the property and lifestyle development arm of National Holding, with headquarters in Abu Dhabi, UAE.-TradeArabia News Service




Tags: Bloom Properties | finance agreement |

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