GulfBase Live Support
Aldar Properties PJSC (‘Aldar’), Abu Dhabi’s leading listed property development, investment and management company, has signed an agreement with Union National Bank to provide ESCROW account services for Water’s Edge buyers. The partnership will enable Aldar to utilise ESCROW facilities for the recently announced waterfront development, and Yas Island’s first mid-market property, which comprises 2,255 apartments.
Commenting on the tie-up, Talal Al Dhiyebi, Chief Development Officer, Aldar, said, “Aldar Properties was the first company to be granted a Master Developer licence under the Abu Dhabi Real Estate Law, and this agreement marks our third ESCROW account project. This demonstrates our continued commitment to compliance with the real estate law, and to providing our customers with the greatest possible transparency. As a waterfront, mid-market apartment development, we are pleased with the strong demand for Water’s Edge, and are confident that the ESCROW accounts with UNB will further support this.”
Hany Youssef, EVP Corporate and Commercial Business at Union National Bank added, “We are very pleased to partner with Aldar for Water’s Edge ESCROW accounts. UNB has demonstrated its commitment to protecting customers during the course of our 35-year operations. The successful implementation of the Escrow bears testament to UNB’s strategy to provide convenience and updated services & solutions to all our customers, and will also support Abu Dhabi’s growing real estate market.
Union National Bank (UNB) said it has closed a 5 year bond issue for $500 million (Dh1.8 billion) with a coupon of 4 per cent and at issue price of 99.6 per cent.
UNB mandated Australia and
Union National Bank said on Monday it has received regulatory approval from the Securities and Commodities Authority to act as a general clearing member.
The bank notified the Abu Dhabi Secu
Union National Bank (UNB), 50 per cent owned by the Abu Dhabi government, has begun operations at its branch in Shanghai, becoming the first bank from the United Arab Emirates to operate a branch in
Saudi Arabia may still move forward with an initial public offering (IPO) for state oil company Saudi Aramco on an international exchange such as London or New York in the second half of 2018, despit
Emirates NBD could agree to buy Turkey’s Denizbank within weeks, after intense lobbying by the Turkish bank to convince President Tayyip Erdogan of the benefits of the potential $5.3 billion deal.
Saudi Aramco could grant shares to employees in any forthcoming initial public offering, according to an analysis of the company charter it adopted at the beginning of the year.
The new cha
The shareholders of Aldar Properties have approved raising its foreign ownership limit by 9 per cent, allowing foreigners to own up to 49 per cent of Abu Dhabi’s biggest-listed developer, the company
Zain, the leading telecommunications network in Kuwait supported the Kuwait Investment Forum 2018 (KIF 2018), that was held under the patronage and in the presence of His Highness the Amir Sheikh Sab