IBQ, NBK launch new property finance solution
Doha, November 27, 2011
IBQ and National Bank of Kuwait (NBK) today launched a joint property finance solution that will allow customers to own properties outside Qatar.
The launch marks the first time that a local Qatari bank offers a multi-national property finance solution that spans four continents.
The finance solution will help customers looking to buy properties in the UK, USA, France, Lebanon, Egypt, UAE and Jordan.
The major benefit of the new service is that it will make purchasing property abroad hassle-free. The simple and straightforward application process involves the customer applying for a loan in Qatar, while IBQ and NBK take care of the rest of the process. Customers will benefit from competitive interest rates and long tenures, said a statement.
Philip King, AGM of retail banking at IBQ, said: “By tying up with our partner NBK on this exciting new service, IBQ continues to provide highly competitive value-added products and benefits and more importantly, the best available choices for our customers looking to purchase property overseas. Our international reach through the extensive NBK network will ensure the process is simple and direct.”
The unique “You Choose, We Finance” service is yet another exceptional innovation providing more choice and options for retail customers.
Mazin Al Nahedh, NBK general manager for Consumer Banking Group, said: “NBK employs its largest international network to provide its customers with the best investment opportunities and services. Our partnership with IBQ means that IBQ customers can start looking for properties in the UK, USA, France, Lebanon, Egypt, UAE and Jordan. We encourage them to benefit from this opportunity to achieve their investment goals.”
The new service is available through NBK’s substantial international network. IBQ is 30 per cent owned and managed by NBK, the largest bank in Kuwait. NBK’s international presence spans the world’s leading financial centres, including London, Paris, New York, Singapore and Shanghai. Its regional coverage encompasses Lebanon, Jordan, Iraq, Egypt, Bahrain, Qatar, Saudi Arabia, the UAE and Turkey. – TradeArabia News Service
More Construction & Real Estate Stories
- Damac launches luxury apartments at Expo site
- Kuwaitis top GCC property buyers in Oman
- Rubber World to showcase at Big 5 Saudi
- Tool to help create effective property listings
- 'Smart' move by Dubai Design District
- Drake unit wins $13m contract in India
- Solar-powered cleaning boats launched in Sharjah
- $27m Expo Hotel Sharjah deal signed
- Arabtec unit wins $282m Emaar contract
- Abu Dhabi to host pool & spa expo
- ADCM unit secures $213m bridging loan
- Cluttons Dubai launches new luxury apartments
- Dubai developer Damac profits triple to $641m
- Dubai to start work on $544m water canal
- Dubai property market can absorb 25,000 units
- Jones Lang LaSalle renamed 'JLL'
- Aldar raises synergy estimate from Sorouh merger
- UAE industrial property sector keeps up growth
- Dubai residential property prices up 26pc
- Majid Al Futtaim to build new mall in Dubai IMPZ
- 300 firms to take part in Dubai property forum
- Naseej inks deal to develop Bahrain projects
- Dadabhai unveils new residential project
- Flowcrete completes Dubai Mall project
- Global asphalt demand hits new high
- $1.3bn infrastructure investment firm set up in Saudi
- Manara sees big project villa success
- Global giants eye RAK utility projects
- Cayan partners with international artist Zsuzsanna
- Samsung, Hyundai win $1.7bn Iraq deals