Ajman Bank grants ARADA a financing of 152 million dirhams

Ajman Bank grants ARADA a financing of 152 million dirhams
Ajman Bank grants ARADA a financing of 152 million dirhams

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Ajman Bank recently entered into an agreement with Arada to provide the real estate developer with 152 million dirhams to finance two major projects in the growing community of Aljada, which in turn represents the largest mixed-use project in Sharjah. The financing includes an amount of 37 million dirhams for the construction of a villa complex, and 115 million dirhams for the construction of the second and final phase of the Sabis International School – Aljada.

Mohamed Amiri, CEO of Ajman Bank, said: We are pleased to offer our support to Arada, which is one of the most important real estate development companies in the region and one of the most advanced and developed, as it focuses in the scope of its work on creating modern and integrated residential communities. In light of the great importance of the process of obtaining financing to ensure the progress of the process of development and growth in all fields, our policy at Ajman Bank aims to support the vision of the UAE aimed at facilitating the work of companies of all categories and sizes and focus on attracting them to do business in the country. An essential aspect of this support. We are keen to be an active part in the strategic development process of the UAE in all sectors by ensuring that companies receive the financial support they need. Our dynamic financing solutions aim to guide companies to achieve long-term stability by enhancing their financial capacity and providing them with new opportunities, which will stimulate the growth of the local economy.

Ahmed Al-Khushaibi, CEO of Arada, said: “Our outstanding track record in terms of sales and deliveries has allowed us to build strong and sustainable relationships with a number of prominent partners in the finance sector. We are pleased with our partnership with Ajman Bank, through which we will be able to deliver a bouquet of modern villas within an integrated community and a world-class school that will in turn represent a valuable addition to the prestigious educational institutions in Sharjah.

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