Al Hilal Bank, an Islamic Bank based in Abu Dhabi, has announced the launch of Al Wataniya Development Fund in partnership with Abu Dhabi Investment House aimed at tapping the huge potential of Abu Dhabi Real Estate sector. This is a first of a series of investment products to be launched by the bank to capitalize on the opportunities available locally and across the globe
The objective of the alliance is to leverage their combined experience across a variety of sectors in the identification of unique investment opportunities and is focused on real estate
The signing ceremony, which was held at al hilal bank’s head office in Abu Dhabi, was attended by Senior Officials from both al hilal bank and Abu Dhabi Investment House, represented by Mr. Aladin Al Khatib, Executive Vice President- Treasury & Investment Group from al hilal bank, and Mr. Saud Hassan Al Nusuf, Chief Investment Placement Officer of Abu Dhabi Investment House.
Mr. Al Khatib commenting on the fund said, “After extensive research and analysis, Al Hilal Bank’s view on Abu Dhabi’s Real Estate market are positive. Given the current rental yields and coupled with our ability to source external expertise, we expect the Fund to generate and exceed its promised returns to our customers. We welcome joining hands with a reputable firm such as ADIH, and we believe the Fund highlights our ability to provide the best to our customers”.
Mr. Al Nusuf from ADIH commented: “Abu Dhabi’s Real Estate market is a highly promising one due to the constant guidance and support of the government. Through continued research, we believe there is a huge potential for our investors through this fund. The strategic partnership with Al Hilal bank will combine extensive expertise from both firms to achieve higher than expectations results. ”
Launched in June 2008, Al-Hilal Bank prides itself in taking a progressive approach to providing its customers with accessible Shariah-compliant banking solutions. It has been a major player in a number of strategic partnerships since its launch.