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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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06/08/2025
Alkhabeer Capital, the financial institution specialising in Shari'a-compliant financial services and brokerage services, has announced the launch of a cutting-edge Block Trade Negotiation System, in
Trade Arabia
06/08/2025
AD Ports Group, a leading enabler of global trade, logistics, and industry, has officially launched its first representative office in Islamabad, the capital of Pakistan, marking a significant milest
Trade Arabia
06/08/2025
Dubai Residential REIT posted a net profit before changes in the fair value of investment property of AED622 million ($169 million) during the first half of 2025, an increase of 10% compared to the f
Trade Arabia
06/08/2025
Emirates Central Cooling Systems Corporation (Empower) has announced robust financial results for the first half with a total revenue of AED1.45 billion ($395 million), up 7.5% over the same period i
Trade Arabia
06/08/2025
Dubai Investments, a leading diversified investment company listed on the Dubai Financial Market (DFM), has reported profit before tax of AED546.28 million ($148.73 million) for the six-month period
Trade Arabia
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