Ajman Bank and Ajman Real Estate Regulatory Agency (ARRA) sign cooperation pact
Ajman Bank and Ajman Real Estate Regulatory Agency (ARRA) sign cooperation pact
Ajman Real Estate Regulatory Agency (ARRA) and Ajman Bank today signed a cooperation pact to offer real estate financing to end users, purchasing properties in Ajman. The agreement was signed at ARRA’s headquarters by ARRA Director General, Omar Al Barguthi, and Deputy CEO of Ajman Bank, Mohamed Amiri.

 

Through this agreement, Ajman Bank will offer up to 60 percent finance-to-value for select projects registered with ARRA. Ajman Bank is offering home finance to end users purchasing residential properties in ARRA-approved projects in Ajman. According to the agreement, these financing solutions, for up to AED 1 million and a tenure of 15 years are available to UAE Nationals, GCC citizens and expatriate residents of the UAE.

 

On this occasion, Omar Al Barguthi, Director General, ARRA, said: “This agreement is the best and most significant recovery sign of the Emirate’s property market. We are confident that this pact will be beneficial for all concerned parties and a positive reflection on Ajman real estate sector. During the negotiations with Ajman bank, we made sure that the bank is providing the best products and one of a kind finance offers, taking into account the market, investors and developers needs. It is a significant beginning of a new phase of real estate investment in the mature property market of Ajman.” 
Ajman Bank Public Joint Stock Company (P.J.S.C) is licensed by the Central Bank of the UAE. All our products and services are Shari’ah complaint.