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- Bahrain All Share Index closes higher
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05/12/2013 11:08 AST
Five years after Dubai mortgage provider Tamweel stopped lending amid the emirate's real estate crash, the company's Islamic bonds are beating peers as the property market rebounds.
Tamweel's sukuk maturing in January 2017 returned 5.5 per cent this year, the most among the 23 securities in the HSBC/Nasdaq Dubai GCC Financial Services Sukuk Index.
The benchmark gauge, which includes debt from the United Arab Emirates to Saudi Arabia, has gained 2.1 per cent in the period.
A rebound in real-estate prices spurred by the economic recovery in the Gulf business hub has boosted UAE bank lending by 7.2 per cent this year as property prices climbed an annual 40 per cent. Tamweel, which was taken over by Dubai Islamic Bank in 2010, has benefited as its new owner provided a source of financing.
"Tamweel has been a turnaround story and a way to gain exposure to a recovering Dubai real-estate market," Yaser Abushaban, the executive director for asset management at Dubai-based Emirates
Investment Bank, said in an e-mailed response to questions November 28.
Bloomberg
18/01/2015
Elie Ibrahim had just two days to sell his shares in Tamweel before the mortgage financier was delisted from Dubai's stock exchange.
It was September 29, 2013, and the stock was plummeting
The National
21/04/2014
Tamweel PJSC, a majority owned subsidiary of Dubai Islamic Bank, on Sunday announced its interim financial statements for the period ending March 31.
The company posted profits of Dh31.5 mi
Gulf News
02/04/2014
After months of speculation as to whether there would life in Tamweel Tower again, former residents, owners, developers and everyone else involved can heave a sigh of relief as Emirates 24|7 can reve
Emirates 24|7
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22/09/2025
Gulf Bank announced its sponsorship and participation in the orientation event for new students organized by the American University of Kuwait, as part of its ongoing commitment to engage with new st
Kuwait Times
22/09/2025
Ooredoo Group has sold a minority 6% stake in Meeza- QSTP, Doha's leading managed information technology services and solutions provider, to certain funds managed by Fiera Capital (UK) at the current
Gulf Times
22/09/2025
Al Mahhar Holding Company, a public shareholding company providing specialised services and products to the energy and infrastructure sectors, has been included in the FTSE Russell Global Equity Inde
Gulf Times
22/09/2025
AD Ports Group has laid the foundation stone for the Noatum Ports Luanda Terminal at the Port of Luanda, marking the commencement of one of the most significant port modernisation and expansion proje
Trade Arabia
22/09/2025
Qatar Industrial Manufacturing Company (QIMC) has signed an agreement to purchase a 7% stake held by Qatar Oman Investment Company in Qatar Aluminum Extrusion Company (QALEX), bringing its total stak
Gulf Times
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